Ibex Wealth Advisors purchased a new stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 61,728 shares of the financial services provider's stock, valued at approximately $6,298,000.
A number of other large investors have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its holdings in Brown & Brown by 0.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider's stock valued at $405,638,000 after buying an additional 28,180 shares during the period. Barclays PLC raised its stake in shares of Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock valued at $255,537,000 after purchasing an additional 371,980 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of 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 purchasing an additional 17,934 shares during the period. FMR LLC raised its stake in shares of Brown & Brown by 42.4% during the third 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 period. Finally, Natixis Advisors LLC raised its stake in shares of Brown & Brown by 6.2% during the third quarter. Natixis Advisors LLC now owns 779,434 shares of the financial services provider's stock valued at $80,749,000 after purchasing an additional 45,766 shares during the period. Hedge funds and other institutional investors own 71.01% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on BRO. Barclays lifted their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the company an "equal weight" rating in a research note on Thursday, November 21st. Jefferies Financial Group lifted their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. StockNews.com lowered shares of Brown & Brown from a "buy" rating to a "hold" rating in a research note on Saturday, November 2nd. Royal Bank of Canada lifted their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $113.17.
View Our Latest Stock Report on Brown & Brown
Brown & Brown Price Performance
BRO stock traded up $2.36 during trading on Thursday, hitting $105.53. The company had a trading volume of 1,325,743 shares, compared to its average volume of 1,680,802. The firm has a market capitalization of $30.18 billion, a price-to-earnings ratio of 28.75, a P/E/G ratio of 2.12 and a beta of 0.85. The business has a 50 day moving average of $105.40 and a 200 day moving average of $104.09. Brown & Brown, Inc. has a fifty-two week low of $75.79 and a fifty-two week high of $114.15. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52.
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 for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. As a group, research analysts predict that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.
Brown & Brown Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.57%. The ex-dividend date is Wednesday, February 5th. Brown & Brown's payout ratio is currently 16.35%.
About Brown & Brown
(
Free Report)
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.
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