Corient Private Wealth LLC Acquires 26,065 Shares of Brown & Brown, Inc. (NYSE:BRO)

Corient Private Wealth LLC lifted its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 6.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 411,950 shares of the financial services provider's stock after buying an additional 26,065 shares during the period. Corient Private Wealth LLC owned approximately 0.14% of Brown & Brown worth $42,027,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BRO. Brooklyn Investment Group acquired a new stake in shares of Brown & Brown during the 3rd quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Brown & Brown during the fourth quarter worth $28,000. Y.D. More Investments Ltd boosted its position in shares of Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 162 shares during the period. R Squared Ltd acquired a new position in shares of Brown & Brown in the 4th quarter valued at $31,000. Finally, SBI Securities Co. Ltd. purchased a new position in Brown & Brown in the 4th quarter worth about $37,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Stock Performance

NYSE BRO traded up $0.30 during midday trading on Wednesday, hitting $119.49. The company had a trading volume of 559,992 shares, compared to its average volume of 1,283,340. The firm has a fifty day simple moving average of $110.53 and a two-hundred day simple moving average of $107.41. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $121.25. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a market cap of $34.16 billion, a price-to-earnings ratio of 34.52, a P/E/G ratio of 2.93 and a beta of 0.86.

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Brown & Brown (NYSE:BRO - Get Free Report) last released its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping 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%. Equities analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders 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 dividend yield of 0.50%. The ex-dividend date was Wednesday, February 5th. Brown & Brown's dividend payout ratio is presently 17.34%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a report on Friday, January 10th. Barclays lifted their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 21st. Wells Fargo & Company increased 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. Morgan Stanley started coverage on Brown & Brown in a research report on Thursday, December 5th. They issued an "overweight" rating and a $134.00 target price for the company. Finally, Royal Bank of Canada increased their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $113.17.

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.