Ieq Capital LLC Cuts Stake in Brown & Brown, Inc. (NYSE:BRO)

Ieq Capital LLC reduced its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 71.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,079 shares of the financial services provider's stock after selling 5,257 shares during the period. Ieq Capital LLC's holdings in Brown & Brown were worth $212,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Atlas Legacy Advisors LLC purchased a new position in Brown & Brown during the 4th quarter valued at about $939,000. Callahan Advisors LLC acquired a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $251,000. GAM Holding AG purchased a new position in shares of Brown & Brown during the 4th quarter worth approximately $1,023,000. D.A. Davidson & CO. raised its position in shares of 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 purchasing an additional 361 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in Brown & Brown by 2.0% in the 4th quarter. Truist Financial Corp now owns 279,134 shares of the financial services provider's stock valued at $28,477,000 after buying an additional 5,521 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BRO has been the subject of several recent research reports. Wells Fargo & Company raised their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Barclays boosted their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the company an "equal weight" rating in a research note on Thursday, November 21st. Bank of America raised their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Morgan Stanley began coverage on shares of Brown & Brown in a report on Thursday, December 5th. They set an "overweight" rating and a $134.00 price target for the company. Finally, Royal Bank of Canada upped their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $113.17.

Brown & Brown Trading Up 1.2 %

Shares of NYSE BRO traded up $1.43 during trading on Monday, hitting $119.97. 2,204,305 shares of the company traded hands, compared to its average volume of 1,602,700. The firm has a market capitalization of $34.30 billion, a P/E ratio of 34.67, a P/E/G ratio of 2.93 and a beta of 0.86. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $106.55 and a 200-day moving average price of $106.07. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $120.39.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's dividend payout ratio (DPR) is presently 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.