Callahan Advisors LLC Makes New $251,000 Investment in Brown & Brown, Inc. (NYSE:BRO)

Callahan Advisors LLC bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,458 shares of the financial services provider's stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GAM Holding AG bought a new position in Brown & Brown during the fourth quarter worth $1,023,000. D.A. Davidson & CO. boosted its stake in Brown & Brown by 1.2% during the fourth 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 in the last quarter. Truist Financial Corp boosted its stake in Brown & Brown by 2.0% during the fourth quarter. Truist Financial Corp now owns 279,134 shares of the financial services provider's stock worth $28,477,000 after buying an additional 5,521 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Brown & Brown by 4.6% during the fourth quarter. CIBC Asset Management Inc now owns 38,706 shares of the financial services provider's stock worth $3,949,000 after buying an additional 1,707 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in Brown & Brown by 1.2% during the fourth quarter. Sanctuary Advisors LLC now owns 163,559 shares of the financial services provider's stock worth $17,249,000 after buying an additional 1,990 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Bank of America lifted 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. Barclays lifted their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods decreased their price target on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company lifted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $113.17.

Brown & Brown Price Performance

NYSE BRO traded up $0.00 on Friday, hitting $111.65. 1,714,738 shares of the company were exchanged, compared to its average volume of 1,482,600. The firm has a 50 day moving average of $105.28 and a two-hundred day moving average of $105.49. The company has a market cap of $31.92 billion, a P/E ratio of 32.27, a P/E/G 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 1-year low of $80.33 and a 1-year high of $114.15.

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

Brown & Brown Announces Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.54%. Brown & Brown's dividend payout ratio (DPR) is 17.34%.

About Brown & Brown

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.