First Horizon Advisors Inc. trimmed its holdings in shares of Brown & Brown, Inc. (NYSE:BRO – Free Report) by 7.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,321 shares of the financial services provider’s stock after selling 107 shares during the period. First Horizon Advisors Inc.’s holdings in Brown & Brown were worth $135,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. Mogy Joel R Investment Counsel Inc. boosted its position in Brown & Brown by 324.3% during the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock valued at $1,967,000 after purchasing an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Brown & Brown by 4.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock worth $18,104,000 after purchasing an additional 6,805 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Brown & Brown by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after buying an additional 17,934 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Brown & Brown in the third quarter valued at $9,832,000. Finally, EULAV Asset Management increased its holdings in Brown & Brown by 144.8% during the fourth quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock worth $43,960,000 after buying an additional 254,900 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.
Brown & Brown Stock Down 0.0 %
BRO stock opened at $114.76 on Thursday. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $115.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $32.81 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 2.93 and a beta of 0.86. The business’s fifty day moving average price is $105.95 and its two-hundred day moving average price is $105.79.
Brown & Brown (NYSE:BRO – Get Free Report) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, equities analysts anticipate 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 was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.52%. Brown & Brown’s dividend payout ratio is presently 17.34%.
Wall Street Analyst Weigh In
A number of brokerages have commented on BRO. Morgan Stanley assumed coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target for the company. Truist Financial lifted their price target on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. 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. Finally, Wells Fargo & Company boosted 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. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and a consensus target price of $113.17.
Get Our Latest Analysis on Brown & Brown
Brown & Brown Profile
(Free Report)
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.
Further Reading
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