Atlas Legacy Advisors LLC Makes New Investment in Brown & Brown, Inc. (NYSE:BRO)

Atlas Legacy Advisors LLC bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,207 shares of the financial services provider's stock, valued at approximately $939,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Callahan Advisors LLC acquired a new position in Brown & Brown during the 4th quarter worth $251,000. GAM Holding AG acquired a new position in Brown & Brown during the 4th quarter worth $1,023,000. D.A. Davidson & CO. lifted its holdings in Brown & Brown by 1.2% during the 4th quarter. D.A. Davidson & CO. now owns 29,841 shares of the financial services provider's stock worth $3,044,000 after buying an additional 361 shares during the last quarter. Truist Financial Corp boosted its position in shares of Brown & Brown by 2.0% during the 4th quarter. Truist Financial Corp now owns 279,134 shares of the financial services provider's stock worth $28,477,000 after acquiring an additional 5,521 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Brown & Brown by 4.6% during the 4th quarter. CIBC Asset Management Inc now owns 38,706 shares of the financial services provider's stock worth $3,949,000 after acquiring an additional 1,707 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BRO has been the subject of several analyst reports. Truist Financial upped their price objective on Brown & Brown from $116.00 to $118.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Bank of America upped their price objective on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Royal Bank of Canada upped their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. StockNews.com cut Brown & Brown from a "buy" rating to a "hold" rating in a research report on Saturday, November 2nd. Finally, Wells Fargo & Company upped their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $113.17.

Brown & Brown Stock Performance

Shares of NYSE BRO traded up $0.00 during trading hours on Friday, reaching $111.65. The stock had a trading volume of 1,714,738 shares, compared to its average volume of 1,482,600. The firm has a market cap of $31.92 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 2.93 and a beta of 0.86. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $114.15. The firm has a 50-day moving average of $105.28 and a 200-day moving average of $105.49.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Equities research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's dividend payout ratio (DPR) is 17.34%.

Brown & Brown Company 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.