First Merchants Corp Has $9.21 Million Position in Brown & Brown, Inc. (NYSE:BRO)

First Merchants Corp boosted its position in Brown & Brown, Inc. (NYSE:BRO) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,299 shares of the financial services provider’s stock after purchasing an additional 561 shares during the quarter. First Merchants Corp’s holdings in Brown & Brown were worth $9,212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BRO. Creative Planning boosted its position in shares of Brown & Brown by 0.4% in the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after acquiring an additional 112 shares during the period. nVerses Capital LLC raised its stake in Brown & Brown by 62.0% in the 3rd quarter. nVerses Capital LLC now owns 11,500 shares of the financial services provider’s stock worth $1,191,000 after purchasing an additional 4,400 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Brown & Brown by 22.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,059 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 554 shares during the period. Marshall Financial Group LLC grew its position in shares of Brown & Brown by 1.2% during the 3rd quarter. Marshall Financial Group LLC now owns 11,361 shares of the financial services provider’s stock worth $1,177,000 after purchasing an additional 139 shares in the last quarter. Finally, Heirloom Wealth Management increased its holdings in shares of Brown & Brown by 5.3% during the third quarter. Heirloom Wealth Management now owns 48,010 shares of the financial services provider’s stock worth $4,974,000 after purchasing an additional 2,438 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Trading Up 1.5 %

BRO opened at $110.95 on Friday. The company has a market cap of $31.73 billion, a P/E ratio of 32.07, a PEG ratio of 2.84 and a beta of 0.86. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $104.51 and its 200-day moving average is $104.92. Brown & Brown, Inc. has a 1-year low of $80.33 and a 1-year high of $114.15.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Equities research analysts predict that Brown & Brown, Inc. will post 4.15 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. Brown & Brown’s dividend payout ratio is currently 17.34%.

Analyst Ratings Changes

Several brokerages recently issued reports on BRO. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Wells Fargo & Company upped their target price on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods reduced their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Bank of America boosted their price target on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, Truist Financial upped their price objective on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One equities research 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 MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $113.17.

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.