Sanctuary Advisors LLC Boosts Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Sanctuary Advisors LLC raised its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 161,569 shares of the financial services provider's stock after purchasing an additional 6,805 shares during the period. Sanctuary Advisors LLC owned 0.06% of Brown & Brown worth $18,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in BRO. Studio Investment Management LLC boosted its position in shares of Brown & Brown by 1.5% in the 3rd quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider's stock worth $675,000 after purchasing an additional 96 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Brown & Brown by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider's stock worth $1,819,000 after acquiring an additional 100 shares in the last quarter. Trust Point Inc. grew its stake in shares of Brown & Brown by 4.3% during the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider's stock worth $261,000 after acquiring an additional 103 shares during the last quarter. Creative Planning increased its holdings in shares of Brown & Brown by 0.4% during the third quarter. Creative Planning now owns 29,892 shares of the financial services provider's stock valued at $3,097,000 after acquiring an additional 112 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in shares of Brown & Brown by 0.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider's stock valued at $2,375,000 after purchasing an additional 113 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Price Performance

NYSE:BRO traded up $0.25 during trading hours on Friday, reaching $103.91. 382,263 shares of the company were exchanged, compared to its average volume of 1,305,970. The firm has a market cap of $29.71 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 2.40 and a beta of 0.84. The stock's 50-day moving average is $107.95 and its 200-day moving average is $100.90. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a twelve month low of $69.13 and a twelve month high of $114.15.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the previous year, the firm posted $0.71 EPS. Brown & Brown's revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were paid a $0.15 dividend. This is an increase from Brown & Brown's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.58%. The ex-dividend date was Wednesday, November 6th. Brown & Brown's dividend payout ratio is currently 16.35%.

Analyst Ratings Changes

BRO has been the topic of several research analyst reports. Jefferies Financial Group boosted their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Morgan Stanley assumed coverage on shares of Brown & Brown in a report on Thursday, December 5th. They set an "overweight" rating and a $134.00 price objective on the stock. Truist Financial raised their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Argus began coverage on Brown & Brown in a research note on Tuesday, September 24th. They set a "buy" rating and a $120.00 price target on the stock. Finally, Barclays increased their price objective 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 analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $109.46.

Brown & Brown Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.