ProShare Advisors LLC Decreases Stake in Brown & Brown, Inc. (NYSE:BRO)

ProShare Advisors LLC lessened its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,846,149 shares of the financial services provider's stock after selling 25,937 shares during the quarter. ProShare Advisors LLC owned approximately 0.65% of Brown & Brown worth $188,344,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BRO. Norges Bank bought a new position in shares of Brown & Brown during the 4th quarter worth approximately $313,412,000. First Trust Advisors LP boosted its holdings in shares of Brown & Brown by 626.6% during the 4th quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock worth $239,751,000 after buying an additional 2,026,589 shares in the last quarter. Madison Investment Advisors LLC bought a new position in shares of Brown & Brown during the 4th quarter worth approximately $198,031,000. Vanguard Group Inc. boosted its holdings in shares of Brown & Brown by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock worth $3,054,493,000 after buying an additional 1,335,964 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Brown & Brown by 11,337.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider's stock worth $1,109,000 after buying an additional 1,099,199 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada increased their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Truist Financial cut their price target on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. UBS Group increased their target price 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 increased their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Finally, Edward Jones assumed coverage on Brown & Brown in a report on Wednesday, April 16th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Brown & Brown currently has an average rating of "Hold" and a consensus price target of $116.85.

Brown & Brown Stock Up 1.1%

NYSE:BRO traded up $1.19 during trading hours on Friday, hitting $111.75. 1,261,414 shares of the company traded hands, compared to its average volume of 1,474,850. 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 firm's 50-day simple moving average is $116.27 and its 200-day simple moving average is $111.04. Brown & Brown, Inc. has a one year low of $85.97 and a one year high of $125.68. The company has a market cap of $32.03 billion, a PE ratio of 32.30, a PEG ratio of 2.93 and a beta of 0.87.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $1.41 billion. During the same quarter last year, the business posted $1.14 earnings per share. Brown & Brown's revenue was up 11.6% on a year-over-year basis. Equities analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

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 given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, May 12th. Brown & Brown's dividend payout ratio is presently 16.71%.

Brown & Brown 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.