Global Retirement Partners LLC Lowers Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Global Retirement Partners LLC lowered its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 59.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,782 shares of the financial services provider's stock after selling 10,005 shares during the quarter. Global Retirement Partners LLC's holdings in Brown & Brown were worth $692,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Atlas Legacy Advisors LLC bought a new position in shares of Brown & Brown in the fourth quarter valued at $939,000. Callahan Advisors LLC purchased a new stake in Brown & Brown in the 4th quarter valued at about $251,000. GAM Holding AG purchased a new stake in Brown & Brown in the 4th quarter valued at about $1,023,000. D.A. Davidson & CO. lifted its position in shares of Brown & Brown by 1.2% during the 4th quarter. D.A. Davidson & CO. now owns 29,841 shares of the financial services provider's stock worth $3,044,000 after buying an additional 361 shares in the last quarter. Finally, Truist Financial Corp boosted its stake in shares of Brown & Brown by 2.0% in the 4th quarter. Truist Financial Corp now owns 279,134 shares of the financial services provider's stock worth $28,477,000 after buying an additional 5,521 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BRO. Barclays lifted their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an "equal weight" rating in a report on Thursday, November 21st. Bank of America lifted their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Royal Bank of Canada boosted their price target 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. Morgan Stanley initiated coverage on shares of Brown & Brown in a report on Thursday, December 5th. They set an "overweight" rating and a $134.00 price objective for the company. Finally, Wells Fargo & Company boosted their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" 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 issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $113.17.

Brown & Brown Stock Performance

Brown & Brown stock traded up $0.95 during mid-day trading on Monday, reaching $112.66. The company's stock had a trading volume of 476,109 shares, compared to its average volume of 1,553,877. The firm's fifty day moving average price is $105.28 and its two-hundred day moving average price is $105.54. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $114.15. The company has a market capitalization of $32.21 billion, a P/E ratio of 32.57, a PEG ratio of 2.93 and a beta of 0.86.

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 return on equity of 17.81% and a net margin of 20.68%. Sell-side analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend 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.