Fiducient Advisors LLC Takes $1.27 Million Position in Brown & Brown, Inc. (NYSE:BRO)

Fiducient Advisors LLC bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 12,436 shares of the financial services provider's stock, valued at approximately $1,269,000.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Brown & Brown during the 4th quarter valued at $313,412,000. Madison Investment Advisors LLC purchased a new stake in shares of Brown & Brown in the fourth quarter worth $198,031,000. Vanguard Group Inc. boosted its stake in Brown & Brown by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after buying an additional 1,335,964 shares during the period. Proficio Capital Partners LLC grew its position in Brown & Brown by 11,337.8% during the fourth quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider's stock worth $1,109,000 after buying an additional 1,099,199 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Brown & Brown in the 4th quarter worth about $71,915,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

Wall Street Analyst Weigh In

BRO has been the topic of several research analyst reports. Truist Financial upped their price objective on shares of Brown & Brown from $118.00 to $138.00 and gave the stock a "buy" rating in a research report on Tuesday. Bank of America lifted their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Barclays raised their price objective on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Royal Bank of Canada boosted their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $117.50.

Brown & Brown Stock Down 1.4 %

Shares of NYSE BRO traded down $1.63 during trading on Friday, reaching $117.17. The company had a trading volume of 1,795,477 shares, compared to its average volume of 1,434,392. The business's 50-day moving average is $117.28 and its 200 day moving average is $109.98. 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 $33.50 billion, a PE ratio of 33.86, a P/E/G ratio of 2.93 and a beta of 0.75. Brown & Brown, Inc. has a 12-month low of $80.87 and a 12-month high of $125.68.

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

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's dividend payout ratio is currently 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.