Wealth Enhancement Advisory Services LLC Raises Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Wealth Enhancement Advisory Services LLC lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 206.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,456 shares of the financial services provider's stock after acquiring an additional 28,603 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Brown & Brown were worth $4,331,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Brown & Brown by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after purchasing an additional 1,335,964 shares during the period. Principal Financial Group Inc. boosted its holdings in Brown & Brown by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider's stock worth $1,316,259,000 after buying an additional 94,121 shares during the last quarter. Geode Capital Management LLC increased its stake in Brown & Brown by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider's stock worth $620,737,000 after buying an additional 118,569 shares in the last quarter. Capital World Investors increased its stake in Brown & Brown by 15.6% during the 4th quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider's stock worth $428,043,000 after buying an additional 566,116 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Brown & Brown by 11.4% during the fourth quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider's stock valued at $388,045,000 after acquiring an additional 388,411 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BRO shares. Truist Financial lowered their price target on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. UBS Group raised their price target on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 9th. Morgan Stanley reaffirmed an "equal weight" rating and set a $128.00 price objective on shares of Brown & Brown in a research note on Tuesday, March 25th. Keefe, Bruyette & Woods cut their price objective on shares of Brown & Brown from $102.00 to $100.00 and set an "underperform" rating for the company in a report on Monday, May 5th. Finally, Edward Jones started coverage on Brown & Brown in a report on Wednesday, April 16th. They set a "buy" rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $118.25.

Brown & Brown Trading Down 1.1%

Shares of NYSE BRO traded down $1.26 during mid-day trading on Thursday, reaching $109.93. 1,302,854 shares of the company's stock were exchanged, compared to its average volume of 1,482,084. The company's 50-day moving average is $114.09 and its 200-day moving average is $111.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a market capitalization of $31.51 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 2.93 and a beta of 0.87. Brown & Brown, Inc. has a 52-week low of $88.31 and a 52-week high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. Brown & Brown's revenue was up 11.6% on a year-over-year basis. Analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Monday, May 12th. Brown & Brown's payout ratio is 16.71%.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.