Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its holdings in Brown & Brown, Inc. (NYSE:BRO) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 293,610 shares of the financial services provider’s stock after selling 25,668 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.10% of Brown & Brown worth $29,954,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Brown & Brown in the third quarter worth $26,000. ST Germain D J Co. Inc. boosted its holdings in Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 200 shares during the period. Ashton Thomas Securities LLC acquired a new position in Brown & Brown in the third quarter worth $29,000. Versant Capital Management Inc lifted its stake in Brown & Brown by 130.7% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after buying an additional 234 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Brown & Brown in the third quarter valued at $58,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $106.01 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. The firm’s 50-day simple moving average is $105.75 and its 200 day simple moving average is $103.70. Brown & Brown, Inc. has a fifty-two week low of $75.79 and a fifty-two week high of $114.15. The stock has a market cap of $30.31 billion, a P/E ratio of 28.88, a P/E/G ratio of 2.12 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the business earned $0.71 earnings per share. Brown & Brown’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts expect 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. Shareholders of record on Wednesday, February 5th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.57%. The ex-dividend date is Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 16.35%.

Analyst Ratings Changes

A number of research firms have issued reports 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. Bank of America raised their target price on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods cut their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Jefferies Financial Group raised their target price on Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Truist Financial raised their target price on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and an average target price of $112.08.

Brown & Brown 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.