Fenimore Asset Management Inc Has $234.49 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

Fenimore Asset Management Inc decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,298,508 shares of the financial services provider’s stock after selling 26,368 shares during the quarter. Brown & Brown comprises approximately 4.9% of Fenimore Asset Management Inc’s portfolio, making the stock its 2nd biggest holding. Fenimore Asset Management Inc owned approximately 0.80% of Brown & Brown worth $234,494,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms recently commented on BRO. Truist Financial boosted their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley initiated 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. Bank of America increased their price target on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods dropped their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Finally, Barclays increased 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. One investment 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, Brown & Brown presently has an average rating of “Hold” and a consensus target price of $112.08.

Brown & Brown Stock Up 0.7 %

Shares of NYSE BRO opened at $106.01 on Friday. The company has a market cap of $30.31 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 2.12 and a beta of 0.85. 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 fifty day moving average is $105.75 and its 200 day moving average is $103.70. Brown & Brown, Inc. has a 52 week low of $75.79 and a 52 week high of $114.15.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Brown & Brown’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. On average, equities research analysts expect that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. Brown & Brown’s dividend payout ratio is presently 16.35%.

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.