Claro Advisors LLC Has $729,000 Holdings in Brown & Brown, Inc. (NYSE:BRO)

Claro Advisors LLC cut its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 26.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,145 shares of the financial services provider’s stock after selling 2,564 shares during the quarter. Claro Advisors LLC’s holdings in Brown & Brown were worth $729,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in shares of Brown & Brown during the third quarter worth $26,000. ST Germain D J Co. Inc. grew its holdings in Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 200 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Brown & Brown in the third quarter worth $29,000. Versant Capital Management Inc grew its holdings in Brown & Brown by 130.7% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 234 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Brown & Brown in the third quarter worth $58,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BRO has been the subject of a number of research reports. Bank of America raised their price target on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Truist Financial raised their price target on shares of 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 lifted their price objective on shares of Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, Barclays lifted their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, five have given 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 target price of $112.08.

Brown & Brown Stock Up 0.6 %

BRO opened at $102.57 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The company’s 50-day moving average is $106.77 and its 200 day moving average is $102.93. Brown & Brown, Inc. has a fifty-two week low of $73.23 and a fifty-two week high of $114.15. The firm has a market capitalization of $29.33 billion, a P/E ratio of 27.95, a PEG ratio of 2.40 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm earned $0.71 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. Research analysts expect that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given a $0.15 dividend. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 annualized dividend and a yield of 0.58%. Brown & Brown’s payout ratio is currently 16.35%.

Brown & Brown Company 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.