Forte Capital LLC ADV Purchases 20,675 Shares of Brown & Brown, Inc. (NYSE:BRO)

Forte Capital LLC ADV boosted its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 45.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,648 shares of the financial services provider's stock after buying an additional 20,675 shares during the quarter. Forte Capital LLC ADV's holdings in Brown & Brown were worth $4,739,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Independent Advisor Alliance grew its position in Brown & Brown by 0.3% during the third quarter. Independent Advisor Alliance now owns 51,561 shares of the financial services provider's stock valued at $3,601,000 after buying an additional 155 shares during the period. Legacy Capital Wealth Partners LLC boosted its position in Brown & Brown by 2.6% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 6,316 shares of the financial services provider's stock worth $449,000 after purchasing an additional 158 shares during the period. Tributary Capital Management LLC increased its stake in shares of Brown & Brown by 1.1% in the fourth quarter. Tributary Capital Management LLC now owns 16,677 shares of the financial services provider's stock worth $1,186,000 after purchasing an additional 174 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Brown & Brown by 22.8% in the fourth quarter. First Horizon Advisors Inc. now owns 1,008 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 187 shares during the period. Finally, Summit Financial LLC lifted its stake in shares of Brown & Brown by 6.0% during the 3rd quarter. Summit Financial LLC now owns 3,395 shares of the financial services provider's stock valued at $237,000 after buying an additional 191 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

BRO has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on shares of Brown & Brown from $84.00 to $85.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 24th. Royal Bank of Canada increased their price objective on Brown & Brown from $87.00 to $95.00 and gave the stock an "outperform" rating in a report on Wednesday, March 20th. The Goldman Sachs Group raised Brown & Brown from a "neutral" rating to a "buy" rating and reduced their target price for the company from $84.00 to $83.00 in a report on Monday, January 8th. StockNews.com raised shares of Brown & Brown from a "hold" rating to a "buy" rating in a report on Sunday, March 17th. Finally, Jefferies Financial Group cut shares of Brown & Brown from a "buy" rating to a "hold" rating and reduced their price objective for the company from $85.00 to $78.00 in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Brown & Brown has a consensus rating of "Hold" and a consensus price target of $87.30.

Brown & Brown Price Performance

BRO traded up $0.78 on Friday, reaching $83.50. The company had a trading volume of 1,012,970 shares, compared to its average volume of 1,399,759. Brown & Brown, Inc. has a 52-week low of $61.71 and a 52-week high of $87.99. The company has a market cap of $23.82 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 2.28 and a beta of 0.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.97 and a current ratio of 1.97. The business has a 50 day simple moving average of $84.18 and a 200 day simple moving average of $77.67.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.07. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.22 billion. During the same quarter last year, the company posted $0.84 EPS. The business's quarterly revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Brown & Brown, Inc. will post 3.62 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be paid a $0.13 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.52 dividend on an annualized basis and a yield of 0.62%. Brown & Brown's dividend payout ratio is presently 16.00%.

Insider Activity at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the transaction, the chairman now owns 37,460,605 shares of the company's stock, valued at $3,220,113,605.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 17.02% of the stock is owned by insiders.

Brown & Brown Profile

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.