Brown & Brown, Inc. (NYSE:BRO) is Mattern Capital Management LLC's 7th Largest Position

Mattern Capital Management LLC decreased its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,738 shares of the financial services provider's stock after selling 2,668 shares during the quarter. Brown & Brown accounts for approximately 1.7% of Mattern Capital Management LLC's investment portfolio, making the stock its 7th largest holding. Mattern Capital Management LLC's holdings in Brown & Brown were worth $12,930,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Zurich Insurance Group Ltd FI boosted its holdings in Brown & Brown by 258.0% in the third quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider's stock valued at $66,985,000 after purchasing an additional 465,988 shares during the last quarter. Barclays PLC grew its holdings in Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock worth $255,537,000 after acquiring an additional 371,980 shares during the period. FMR LLC grew its stake in shares of Brown & Brown by 42.4% during the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider's stock worth $114,979,000 after purchasing an additional 330,661 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of Brown & Brown by 129.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 547,003 shares of the financial services provider's stock valued at $56,670,000 after purchasing an additional 308,458 shares during the period. Finally, EULAV Asset Management increased its holdings in Brown & Brown by 144.8% in the fourth quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider's stock valued at $43,960,000 after buying an additional 254,900 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Price Performance

Shares of NYSE:BRO traded up $1.60 during trading on Tuesday, hitting $114.20. 560,453 shares of the stock were exchanged, compared to its average volume of 1,555,731. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $114.52. The company has a market cap of $32.65 billion, a PE ratio of 33.04, a P/E/G ratio of 2.93 and a beta of 0.86. The company has a fifty day moving average price of $105.44 and a two-hundred day moving average price of $105.62. 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 (NYSE:BRO - Get Free Report) last posted its earnings results 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, analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Wednesday, February 5th. Brown & Brown's dividend payout ratio is currently 17.34%.

Analyst Ratings Changes

A number of research firms have recently commented on BRO. Bank of America boosted their target price 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. StockNews.com cut shares of Brown & Brown from a "buy" rating to a "hold" rating in a research report on Saturday, November 2nd. Truist Financial upped their price objective on Brown & Brown from $116.00 to $118.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Finally, Barclays increased their target price on Brown & Brown from $108.00 to $119.00 and gave the company an "equal weight" rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Brown & Brown presently has a consensus rating of "Hold" and an average target price of $113.17.

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.