Brown & Brown, Inc. (NYSE:BRO) Holdings Lowered by IFP Advisors Inc

IFP Advisors Inc trimmed its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 5.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,640 shares of the financial services provider’s stock after selling 1,221 shares during the period. IFP Advisors Inc’s holdings in Brown & Brown were worth $2,212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BRO. Brooklyn Investment Group bought a new stake in shares of Brown & Brown during the 3rd quarter worth about $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Brown & Brown during the 3rd quarter worth about $29,000. Y.D. More Investments Ltd raised its position in shares of Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after buying an additional 162 shares in the last quarter. R Squared Ltd bought a new stake in shares of Brown & Brown during the 4th quarter worth about $31,000. Finally, Versant Capital Management Inc raised its holdings in shares of Brown & Brown by 130.7% in the 4th 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 in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BRO has been the topic of a number of research reports. Truist Financial boosted their target price 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. Bank of America boosted their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Royal Bank of Canada boosted their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Barclays boosted their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Stock Up 1.9 %

BRO stock opened at $114.79 on Wednesday. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $114.90. The company’s 50 day simple moving average is $105.68 and its 200-day simple moving average is $105.73. 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 $32.82 billion, a P/E ratio of 33.18, a P/E/G ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS 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%. As a group, equities research analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The business 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. This represents a $0.60 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s payout ratio is presently 17.34%.

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.