Mercer Global Advisors Inc. ADV trimmed its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 46.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,185 shares of the financial services provider's stock after selling 8,064 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Brown & Brown were worth $937,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Davidson Kahn Capital Management LLC bought a new stake in Brown & Brown in the 4th quarter valued at about $1,130,000. Freestone Grove Partners LP acquired a new stake in Brown & Brown in the fourth quarter valued at approximately $17,537,000. Comerica Bank increased its holdings in shares of Brown & Brown by 2.9% during the fourth quarter. Comerica Bank now owns 81,449 shares of the financial services provider's stock valued at $8,309,000 after acquiring an additional 2,330 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Brown & Brown during the fourth quarter worth approximately $199,000. Finally, Lido Advisors LLC lifted its holdings in shares of Brown & Brown by 2.6% in the 4th quarter. Lido Advisors LLC now owns 4,690 shares of the financial services provider's stock worth $479,000 after purchasing an additional 120 shares in the last quarter. 71.01% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have weighed in on BRO. Truist Financial lowered their price objective on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Edward Jones initiated coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They issued a "buy" rating on the stock. UBS Group boosted their price objective on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, April 9th. Wells Fargo & Company raised their target price on Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Finally, Jefferies Financial Group upped their price target on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $116.67.
Read Our Latest Analysis on Brown & Brown
Brown & Brown Stock Performance
NYSE BRO opened at $111.42 on Friday. 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 company has a market capitalization of $31.93 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 2.93 and a beta of 0.87. Brown & Brown, Inc. has a 52-week low of $85.97 and a 52-week high of $125.68. The company has a 50-day simple moving average of $117.15 and a 200 day simple moving average of $110.86.
Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the firm posted $1.14 EPS. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. On average, research analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.
Brown & Brown Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. Brown & Brown's payout ratio is 16.71%.
About Brown & Brown
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding BRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brown & Brown, Inc. (NYSE:BRO - Free Report).
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