Fenimore Asset Management Inc Sells 26,368 Shares of Brown & Brown, Inc. (NYSE:BRO)

Fenimore Asset Management Inc decreased its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,298,508 shares of the financial services provider's stock after selling 26,368 shares during the quarter. Brown & Brown makes up about 4.9% of Fenimore Asset Management Inc's holdings, making the stock its 2nd biggest position. Fenimore Asset Management Inc owned approximately 0.80% of Brown & Brown worth $234,494,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in shares of Brown & Brown in the third quarter worth about $26,000. ST Germain D J Co. Inc. lifted its holdings in Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider's stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Brown & Brown in the 3rd quarter worth approximately $29,000. Versant Capital Management Inc grew its holdings in Brown & Brown by 130.7% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 234 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Brown & Brown in the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Price Performance

NYSE:BRO traded up $0.78 during trading hours on Friday, reaching $106.01. The company had a trading volume of 1,480,167 shares, compared to its average volume of 1,201,046. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average of $105.75 and a two-hundred day moving average of $103.80. Brown & Brown, Inc. has a one year low of $75.79 and a one year high of $114.15. The firm has a market capitalization of $30.31 billion, a PE ratio of 28.88, a PEG ratio of 2.12 and a beta of 0.85.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 EPS. Analysts forecast that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.57%. Brown & Brown's dividend payout ratio (DPR) is presently 16.35%.

Wall Street Analyst Weigh In

BRO has been the subject of a number of recent analyst reports. Bank of America upped their price target on shares of Brown & Brown from $108.00 to $117.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Truist Financial increased their target price on Brown & Brown from $116.00 to $118.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price target on Brown & Brown from $112.00 to $114.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods reduced 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. Finally, Morgan Stanley assumed coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They set an "overweight" rating and a $134.00 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $112.08.

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.