Brown & Brown, Inc. (NYSE:BRO) Holdings Raised by Nicholson Wealth Management Group LLC

Nicholson Wealth Management Group LLC boosted its stake in Brown & Brown, Inc. (NYSE:BRO) by 32.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,259 shares of the financial services provider’s stock after buying an additional 3,498 shares during the quarter. Nicholson Wealth Management Group LLC’s holdings in Brown & Brown were worth $1,455,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BRO. Creative Planning increased its stake in shares of Brown & Brown by 0.4% during the 3rd quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock worth $3,097,000 after purchasing an additional 112 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Brown & Brown by 166.2% during the 3rd quarter. Blue Trust Inc. now owns 1,464 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 914 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Brown & Brown by 26.1% during the 3rd quarter. Private Advisor Group LLC now owns 7,467 shares of the financial services provider’s stock worth $774,000 after purchasing an additional 1,544 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Brown & Brown during the 3rd quarter worth $1,376,000. Finally, Greenleaf Trust increased its stake in shares of Brown & Brown by 290.7% during the 3rd quarter. Greenleaf Trust now owns 15,336 shares of the financial services provider’s stock worth $1,589,000 after purchasing an additional 11,411 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

NYSE BRO opened at $111.69 on Friday. 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 firm has a market capitalization of $31.93 billion, a price-to-earnings ratio of 32.28, a P/E/G ratio of 2.95 and a beta of 0.86. The company’s fifty day moving average is $105.13 and its two-hundred day moving average is $105.35. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $114.15.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.54%. Brown & Brown’s dividend payout ratio is 17.34%.

Analyst Ratings Changes

Several research analysts have recently commented on BRO shares. Keefe, Bruyette & Woods dropped their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Truist Financial increased their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. 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 target price on the stock. Wells Fargo & Company raised their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada raised their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $113.17.

About Brown & Brown

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.