Port Capital LLC Raises Holdings in Brown & Brown, Inc. (NYSE:BRO)

Port Capital LLC lifted its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 240,332 shares of the financial services provider's stock after purchasing an additional 2,423 shares during the period. Port Capital LLC owned about 0.08% of Brown & Brown worth $24,519,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Brown & Brown during the 4th quarter worth about $28,000. Johnson Financial Group Inc. increased its stake in Brown & Brown by 534.1% in the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 235 shares during the last quarter. Y.D. More Investments Ltd increased its stake in Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 162 shares during the last quarter. R Squared Ltd purchased a new position in Brown & Brown in the fourth quarter valued at approximately $31,000. Finally, SBI Securities Co. Ltd. purchased a new position in Brown & Brown in the fourth quarter valued at approximately $37,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BRO has been the topic of several recent analyst reports. Truist Financial dropped their price target on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Morgan Stanley reissued an "equal weight" rating and issued a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. UBS Group boosted their target price on Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, April 9th. Edward Jones started coverage on Brown & Brown in a report on Wednesday, April 16th. They issued a "buy" rating for the company. Finally, Wells Fargo & Company boosted 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $116.85.

Brown & Brown Stock Performance

Shares of NYSE BRO traded up $0.10 during mid-day trading on Tuesday, hitting $112.10. 527,885 shares of the company were exchanged, compared to its average volume of 1,471,425. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a 50 day simple moving average of $116.16 and a 200-day simple moving average of $111.14. Brown & Brown, Inc. has a 1-year low of $85.97 and a 1-year high of $125.68. The firm has a market cap of $32.13 billion, a price-to-earnings ratio of 32.39, a price-to-earnings-growth ratio of 2.93 and a beta of 0.87.

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

Brown & Brown Dividend Announcement

The firm also recently announced 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Monday, May 12th. Brown & Brown's dividend payout ratio (DPR) is 16.71%.

About Brown & Brown

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.