Atomi Financial Group Inc. Buys 2,304 Shares of Brown & Brown, Inc. (NYSE:BRO)

Atomi Financial Group Inc. raised its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 38.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,299 shares of the financial services provider’s stock after acquiring an additional 2,304 shares during the quarter. Atomi Financial Group Inc.’s holdings in Brown & Brown were worth $847,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in Brown & Brown in the third quarter valued at about $26,000. ST Germain D J Co. Inc. boosted its holdings in shares of Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Brown & Brown during the 3rd quarter worth approximately $29,000. Versant Capital Management Inc increased its holdings in Brown & Brown by 130.7% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 234 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Brown & Brown in the 3rd quarter valued at $58,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Down 0.4 %

Brown & Brown stock opened at $105.22 on Thursday. The firm has a market capitalization of $30.09 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 2.12 and a beta of 0.85. The company’s 50 day simple moving average is $105.92 and its 200 day simple moving average is $103.59. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. Brown & Brown, Inc. has a fifty-two week low of $75.79 and a fifty-two week high of $114.15.

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

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. Brown & Brown’s dividend payout ratio is currently 16.35%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BRO. Barclays raised their target price on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Jefferies Financial Group boosted their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Truist Financial increased their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Morgan Stanley initiated coverage on Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and a consensus target price of $112.08.

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.