Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Virtus ETF Advisers LLC

Virtus ETF Advisers LLC increased its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 24.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,134 shares of the financial services provider's stock after acquiring an additional 2,206 shares during the period. Virtus ETF Advisers LLC's holdings in Brown & Brown were worth $1,136,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BRO. Barclays PLC grew its holdings in Brown & Brown by 17.8% during the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock valued at $255,537,000 after buying an additional 371,980 shares during the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of Brown & Brown by 2.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 8,045 shares of the financial services provider's stock worth $833,000 after purchasing an additional 161 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Brown & Brown during the 3rd quarter worth $58,000. Tidal Investments LLC lifted its stake in shares of Brown & Brown by 652.8% during the 3rd quarter. Tidal Investments LLC now owns 259,205 shares of the financial services provider's stock worth $26,854,000 after purchasing an additional 224,772 shares during the period. Finally, Synovus Financial Corp raised its position in shares of Brown & Brown by 1.9% in the 3rd quarter. Synovus Financial Corp now owns 6,157 shares of the financial services provider's stock worth $638,000 after buying an additional 117 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Stock Down 0.8 %

Shares of Brown & Brown stock traded down $0.88 on Thursday, hitting $109.73. 840,644 shares of the company's stock traded hands, compared to its average volume of 1,453,931. The stock has a market cap of $31.37 billion, a P/E ratio of 31.72, a PEG ratio of 2.93 and a beta of 0.75. 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 moving average is $117.98 and its 200 day moving average is $110.60. Brown & Brown, Inc. has a 52-week low of $81.57 and a 52-week high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last released its earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate 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 net margin of 20.68% and a return on equity of 17.81%. The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 earnings per share. Equities analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Investors 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 0.55%. The ex-dividend date of this dividend is Monday, May 12th. Brown & Brown's dividend payout ratio is currently 17.34%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Royal Bank of Canada increased their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price objective on Brown & Brown from $97.00 to $102.00 and gave the company an "underperform" rating in a research report on Wednesday, April 9th. Truist Financial cut their price objective on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday. Barclays raised their price objective on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. Finally, Bank of America raised their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $116.83.

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.