Concurrent Investment Advisors LLC Acquires 5,440 Shares of Brown & Brown, Inc. (NYSE:BRO)

Concurrent Investment Advisors LLC grew its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 144.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,199 shares of the financial services provider's stock after purchasing an additional 5,440 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Brown & Brown were worth $938,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Mogy Joel R Investment Counsel Inc. increased its holdings in Brown & Brown by 324.3% during the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider's stock worth $1,967,000 after purchasing an additional 14,740 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Brown & Brown by 4.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider's stock valued at $18,104,000 after acquiring an additional 6,805 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Brown & Brown by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider's stock worth $136,302,000 after acquiring an additional 17,934 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Brown & Brown in the 3rd quarter worth $9,832,000. Finally, EULAV Asset Management raised its holdings in shares of 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 purchasing an additional 254,900 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Analysts Set New Price Targets

BRO has been the topic of several analyst reports. StockNews.com cut shares of Brown & Brown from a "buy" rating to a "hold" rating in a report on Saturday, November 2nd. Wells Fargo & Company upped their target price on Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Royal Bank of Canada lifted their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Truist Financial upped their price objective on Brown & Brown from $116.00 to $118.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley assumed coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an "overweight" rating and a $134.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $113.17.

Brown & Brown Trading Up 0.7 %

BRO stock traded up $0.83 during midday trading on Monday, hitting $112.54. The company had a trading volume of 1,577,900 shares, compared to its average volume of 1,585,669. 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 52 week low of $80.33 and a 52 week high of $114.15. The stock has a market cap of $32.18 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 2.93 and a beta of 0.86. The stock's 50 day moving average price is $105.28 and its 200 day moving average price is $105.54.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly 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 net margin of 20.68% and a return on equity of 17.81%. As a group, equities research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders 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 0.53%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's payout ratio is 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.