Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Geneva Partners LLC

Geneva Partners LLC boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 22.8% during the fourth quarter, Holdings Channel reports. The firm owned 6,035 shares of the financial services provider’s stock after buying an additional 1,120 shares during the quarter. Geneva Partners LLC’s holdings in Brown & Brown were worth $616,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Studio Investment Management LLC increased its stake in shares of Brown & Brown by 1.5% during the 3rd quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock worth $675,000 after purchasing an additional 96 shares in the last quarter. Journey Strategic Wealth LLC raised its position in shares of Brown & Brown by 2.3% in the fourth quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock valued at $458,000 after buying an additional 99 shares during the last quarter. Trust Point Inc. lifted its stake in shares of Brown & Brown by 4.3% during the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock valued at $261,000 after buying an additional 103 shares during the period. CWA Asset Management Group LLC boosted its position in Brown & Brown by 3.7% during the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 103 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in Brown & Brown by 3.4% in the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 103 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BRO. Jefferies Financial Group upped their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Barclays upped their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Truist Financial boosted their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and an average target price of $113.17.

Brown & Brown Stock Up 0.8 %

BRO stock opened at $106.79 on Thursday. Brown & Brown, Inc. has a twelve month low of $77.47 and a twelve month high of $114.15. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $30.54 billion, a P/E ratio of 30.87, a PEG ratio of 2.75 and a beta of 0.86. The firm has a 50 day simple moving average of $104.85 and a 200-day simple moving average of $104.52.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, equities research analysts predict that Brown & Brown, Inc. will post 4.15 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

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 issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

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.