Advisory Alpha LLC Acquires 788 Shares of Brown & Brown, Inc. (NYSE:BRO)

Advisory Alpha LLC grew its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 36.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,973 shares of the financial services provider’s stock after buying an additional 788 shares during the period. Advisory Alpha LLC’s holdings in Brown & Brown were worth $303,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BRO. American Century Companies Inc. boosted its holdings in shares of Brown & Brown by 14.8% during the 2nd quarter. American Century Companies Inc. now owns 16,508 shares of the financial services provider’s stock valued at $1,476,000 after buying an additional 2,123 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Brown & Brown during the 2nd quarter valued at $279,000. Public Sector Pension Investment Board boosted its holdings in shares of Brown & Brown by 8.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 40,185 shares of the financial services provider’s stock valued at $3,593,000 after buying an additional 2,990 shares in the last quarter. Xponance Inc. boosted its holdings in shares of Brown & Brown by 2.4% during the 2nd quarter. Xponance Inc. now owns 41,870 shares of the financial services provider’s stock valued at $3,744,000 after buying an additional 994 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Brown & Brown during the 2nd quarter valued at $117,000. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BRO shares. Jefferies Financial Group upped their price target 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. Bank of America upped their price target on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Truist Financial upped their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price target on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $112.08.

Brown & Brown Price Performance

BRO opened at $105.21 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market capitalization of $30.08 billion, a P/E ratio of 28.67, a P/E/G ratio of 2.12 and a beta of 0.85. The company’s 50-day simple moving average is $105.92 and its two-hundred day simple moving average is $103.59. Brown & Brown, Inc. has a 52-week low of $75.79 and a 52-week high of $114.15.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, analysts predict 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 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Wednesday, February 5th. Brown & Brown’s payout ratio is currently 16.35%.

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.