Heirloom Wealth Management Acquires 4,214 Shares of Brown & Brown, Inc. (NYSE:BRO)

Heirloom Wealth Management lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 8.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,224 shares of the financial services provider's stock after purchasing an additional 4,214 shares during the period. Brown & Brown comprises 1.6% of Heirloom Wealth Management's investment portfolio, making the stock its 19th largest holding. Heirloom Wealth Management's holdings in Brown & Brown were worth $5,328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in shares of Brown & Brown by 0.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider's stock worth $405,638,000 after acquiring an additional 28,180 shares during the last quarter. Barclays PLC lifted its holdings in Brown & Brown by 17.8% in the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock valued at $255,537,000 after buying an additional 371,980 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Brown & Brown by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider's stock valued at $136,302,000 after acquiring an additional 17,934 shares during the last quarter. FMR LLC grew its holdings in Brown & Brown by 42.4% during the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider's stock worth $114,979,000 after acquiring an additional 330,661 shares during the period. Finally, Natixis Advisors LLC raised its position in shares of Brown & Brown by 6.2% in the 3rd quarter. Natixis Advisors LLC now owns 779,434 shares of the financial services provider's stock worth $80,749,000 after acquiring an additional 45,766 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BRO shares. Royal Bank of Canada raised their target price on Brown & Brown from $113.00 to $118.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their target price on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. StockNews.com lowered Brown & Brown from a "buy" rating to a "hold" rating in a research report on Saturday, November 2nd. Truist Financial raised their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods cut their price objective 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Brown & Brown presently has an average rating of "Hold" and a consensus target price of $112.08.

Brown & Brown Price Performance

NYSE:BRO traded up $1.93 during midday trading on Monday, hitting $107.93. The company had a trading volume of 2,275,398 shares, compared to its average volume of 1,644,268. The company has a market capitalization of $30.86 billion, a PE ratio of 29.41, a P/E/G ratio of 2.12 and a beta of 0.85. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 52-week low of $75.79 and a 52-week high of $114.15. The stock's fifty day moving average price is $105.75 and its 200-day moving average price is $103.89.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. As a group, research analysts expect that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.56%. Brown & Brown's payout ratio is 16.35%.

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.