Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Covey Capital Advisors LLC

Covey Capital Advisors LLC trimmed its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,993 shares of the financial services provider's stock after selling 2,605 shares during the period. Brown & Brown accounts for approximately 3.4% of Covey Capital Advisors LLC's holdings, making the stock its 11th largest holding. Covey Capital Advisors LLC's holdings in Brown & Brown were worth $2,958,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI boosted its position in shares of Brown & Brown by 258.0% in the third quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider's stock worth $66,985,000 after acquiring an additional 465,988 shares during the last quarter. Barclays PLC raised its stake in Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock worth $255,537,000 after purchasing an additional 371,980 shares during the period. FMR LLC boosted its holdings in shares of Brown & Brown by 42.4% in the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider's stock valued at $114,979,000 after purchasing an additional 330,661 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Brown & Brown by 129.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 547,003 shares of the financial services provider's stock worth $56,670,000 after buying an additional 308,458 shares during the last quarter. Finally, EULAV Asset Management increased its holdings in shares of Brown & Brown by 144.8% during the 4th quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider's stock worth $43,960,000 after buying an additional 254,900 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Stock Up 1.4 %

BRO traded up $1.60 on Tuesday, reaching $114.20. The company's stock had a trading volume of 560,453 shares, compared to its average volume of 1,555,731. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $114.52. The business's 50 day moving average is $105.44 and its 200 day moving average is $105.62. The stock has a market cap of $32.65 billion, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86.

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

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.53%. Brown & Brown's dividend payout ratio (DPR) is presently 17.34%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wells Fargo & Company upped their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Truist Financial increased their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Bank of America lifted their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods dropped their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a research report on Friday, January 10th. Finally, Royal Bank of Canada lifted their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. One investment 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.com, Brown & Brown has a consensus rating of "Hold" and a consensus target price of $113.17.

Brown & Brown 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.