Tandem Investment Advisors Inc. Increases Position in Brown & Brown, Inc. (NYSE:BRO)

Tandem Investment Advisors Inc. boosted its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 717,214 shares of the financial services provider's stock after purchasing an additional 17,113 shares during the quarter. Brown & Brown comprises 2.0% of Tandem Investment Advisors Inc.'s portfolio, making the stock its 29th largest position. Tandem Investment Advisors Inc. owned approximately 0.25% of Brown & Brown worth $51,001,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BRO. Clear Street Markets LLC grew its holdings in Brown & Brown by 93.7% in the first quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider's stock worth $26,000 after purchasing an additional 223 shares during the period. First Capital Advisors Group LLC. purchased a new stake in shares of Brown & Brown during the second quarter valued at approximately $26,000. Fortitude Family Office LLC purchased a new stake in shares of Brown & Brown during the fourth quarter valued at approximately $31,000. Park Place Capital Corp grew its holdings in shares of Brown & Brown by 166.5% during the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider's stock valued at $36,000 after buying an additional 318 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC grew its holdings in shares of Brown & Brown by 150.6% during the third quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider's stock valued at $41,000 after buying an additional 354 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Performance

BRO stock traded down $0.30 on Wednesday, hitting $80.62. The company had a trading volume of 1,016,289 shares, compared to its average volume of 1,328,787. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.58. Brown & Brown, Inc. has a 12-month low of $59.91 and a 12-month high of $87.99. The stock has a market cap of $23.00 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 2.52 and a beta of 0.78. The stock's 50-day simple moving average is $84.15 and its 200 day simple moving average is $76.58.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. The business had revenue of $1.03 billion for the quarter. During the same quarter in the previous year, the business posted $0.50 earnings per share. As a group, equities research analysts expect that Brown & Brown, Inc. will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total value of $12,406,005.08. Following the transaction, the chairman now directly owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.43% of the company's stock.

Wall Street Analyst Weigh In

BRO has been the topic of a number of recent analyst reports. UBS Group increased their price target on shares of Brown & Brown from $75.00 to $81.00 and gave the company a "neutral" rating in a report on Monday, January 29th. Truist Financial increased their price target on shares of Brown & Brown from $85.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, January 24th. Wells Fargo & Company increased their price target on shares of Brown & Brown from $81.00 to $84.00 and gave the company an "equal weight" rating in a report on Thursday, April 11th. Bank of America cut shares of Brown & Brown from a "neutral" rating to an "underperform" rating and increased their price target for the company from $80.00 to $86.00 in a report on Wednesday, March 13th. Finally, The Goldman Sachs Group upgraded shares of Brown & Brown from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $84.00 to $83.00 in a report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $86.80.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.

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