M Holdings Securities Inc. Makes New $2.18 Million Investment in Brown & Brown, Inc. $BRO

M Holdings Securities Inc. acquired a new position in shares of Brown & Brown, Inc. (NYSE:BRO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,738 shares of the financial services provider’s stock, valued at approximately $2,176,000.

A number of other large investors have also recently made changes to their positions in BRO. MassMutual Private Wealth & Trust FSB lifted its position in Brown & Brown by 7,129.0% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 95,062 shares of the financial services provider’s stock valued at $5,789,000 after acquiring an additional 93,747 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in Brown & Brown during the 3rd quarter valued at about $2,547,000. Farther Finance Advisors LLC increased its holdings in Brown & Brown by 1,424.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 40,583 shares of the financial services provider’s stock worth $2,734,000 after purchasing an additional 37,921 shares in the last quarter. Rathbones Group PLC increased its holdings in Brown & Brown by 17.7% during the 1st quarter. Rathbones Group PLC now owns 1,154,219 shares of the financial services provider’s stock worth $75,267,000 after purchasing an additional 173,265 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Brown & Brown by 775.9% during the 3rd quarter. GAMMA Investing LLC now owns 67,997 shares of the financial services provider’s stock worth $4,554,000 after purchasing an additional 60,234 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BRO has been the subject of several analyst reports. Oppenheimer assumed coverage on Brown & Brown in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $73.00 price objective for the company. Truist Financial dropped their price target on Brown & Brown from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. Weiss Ratings upgraded Brown & Brown from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 22nd. UBS Group cut their price objective on Brown & Brown from $73.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, November 2nd. Finally, Mizuho reduced their price objective on Brown & Brown from $83.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $75.47.

Brown & Brown Stock Performance

Shares of BRO stock opened at $70.89 on Tuesday. The firm has a market cap of $23.51 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 2.42 and a beta of 0.52. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.96 and a current ratio of 1.96. Brown & Brown, Inc. has a 52 week low of $53.81 and a 52 week high of $82.57. The firm’s 50-day simple moving average is $66.95 and its two-hundred day simple moving average is $66.64.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, October 26th. The financial services provider reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). Brown & Brown had a net margin of 17.63% and a return on equity of 13.29%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the company earned $1.05 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. As a group, equities analysts forecast that Brown & Brown, Inc. will post 4.44 earnings per share for the current year.

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 11th. Investors of record on Wednesday, November 4th will be issued a $0.18 dividend. This is a boost from Brown & Brown’s previous quarterly dividend of $0.1650. The ex-dividend date of this dividend is Wednesday, November 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Brown & Brown’s payout ratio is presently 22.78%.

About Brown & Brown

Brown & Brown, Inc is an insurance brokerage and risk management company that helps businesses, public entities and individuals assess and manage risk. Its services include arranging property and casualty insurance, employee benefits and personal insurance, as well as providing risk management and related services.

The company serves clients through retail insurance operations, national insurance programs, wholesale brokerage and insurance-related services. It operates primarily in the United States and also serves clients in international markets.

Founded in 1939 in Daytona Beach, Florida, Brown & Brown has grown through organic expansion and acquisitions.