Fidelis Capital Partners LLC Increases Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Fidelis Capital Partners LLC lifted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 6.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,772 shares of the financial services provider’s stock after buying an additional 276 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Brown & Brown were worth $339,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Clear Street Markets LLC increased its stake in shares of Brown & Brown by 93.7% during the first quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 223 shares in the last quarter. First Capital Advisors Group LLC. purchased a new stake in shares of Brown & Brown in the 2nd quarter worth approximately $26,000. Fortitude Family Office LLC purchased a new stake in shares of Brown & Brown in the 4th quarter worth approximately $31,000. Park Place Capital Corp grew its stake in shares of Brown & Brown by 166.5% in the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after buying an additional 318 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Brown & Brown by 174.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock worth $39,000 after buying an additional 348 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 17.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BRO has been the topic of several recent research reports. The Goldman Sachs Group upgraded Brown & Brown from a “neutral” rating to a “buy” rating and cut their price target for the stock from $84.00 to $83.00 in a research note on Monday, January 8th. Raymond James upped their price target on Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Royal Bank of Canada upped their price objective on Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Jefferies Financial Group cut Brown & Brown from a “buy” rating to a “hold” rating and lowered their price objective for the company from $85.00 to $78.00 in a research report on Tuesday, January 9th. Finally, Truist Financial upped their price objective on Brown & Brown from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and a consensus target price of $86.80.

Brown & Brown Price Performance

NYSE BRO opened at $82.17 on Friday. The business’s fifty day moving average price is $84.23 and its 200-day moving average price is $76.72. The stock has a market capitalization of $23.45 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 2.52 and a beta of 0.78. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.95 and a quick ratio of 1.95. Brown & Brown, Inc. has a 1-year low of $59.91 and a 1-year high of $87.99.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. The firm had revenue of $1.03 billion for the quarter. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. During the same period in the previous year, the company earned $0.50 earnings per share. On average, equities analysts predict that Brown & Brown, Inc. will post 3.44 earnings per share for the current year.

Brown & Brown Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.