Callan Family Office LLC lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 67.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,249 shares of the financial services provider's stock after acquiring an additional 4,137 shares during the period. Callan Family Office LLC's holdings in Brown & Brown were worth $1,046,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of BRO. Studio Investment Management LLC boosted its stake in Brown & Brown by 1.5% in the third quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider's stock valued at $675,000 after acquiring an additional 96 shares in the last quarter. Journey Strategic Wealth LLC raised its position in Brown & Brown by 2.3% during the 4th quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider's stock worth $458,000 after buying an additional 99 shares during the last quarter. CWA Asset Management Group LLC boosted its holdings in shares of Brown & Brown by 3.7% in the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider's stock valued at $297,000 after acquiring an additional 103 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Brown & Brown by 3.4% in the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider's stock valued at $323,000 after buying an additional 103 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Brown & Brown by 0.5% in the third quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider's stock valued at $2,375,000 after buying an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on BRO. Morgan Stanley initiated coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an "overweight" rating and a $134.00 target price for the company. Royal Bank of Canada raised their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods lowered their price objective on Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a research report on Friday, January 10th. Wells Fargo & Company increased their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Finally, Bank of America increased their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $113.17.
Check Out Our Latest Stock Report on BRO
Brown & Brown Stock Performance
Shares of Brown & Brown stock traded down $0.65 during trading on Wednesday, hitting $117.31. 2,036,363 shares of the stock were exchanged, compared to its average volume of 1,276,752. The stock's fifty day moving average is $108.80 and its 200 day moving average is $106.89. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $121.25. The stock has a market cap of $33.54 billion, a PE ratio of 33.90, a P/E/G ratio of 2.93 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.
Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 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%. As a group, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.
Brown & Brown Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.51%. Brown & Brown's dividend payout ratio (DPR) is 17.34%.
About Brown & Brown
(
Free Report)
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.
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