Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC trimmed its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 9.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 138,318 shares of the financial services provider's stock after selling 14,530 shares during the period. Kennedy Capital Management LLC's holdings in Brown & Brown were worth $14,111,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Brown & Brown during the 4th quarter valued at approximately $28,000. Y.D. More Investments Ltd lifted its holdings in shares of Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after purchasing an additional 162 shares during the period. R Squared Ltd purchased a new position in Brown & Brown in the 4th quarter valued at $31,000. SBI Securities Co. Ltd. acquired a new position in Brown & Brown in the 4th quarter valued at $37,000. Finally, Versant Capital Management Inc raised its position in Brown & Brown by 130.7% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider's stock worth $42,000 after buying an additional 234 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BRO shares. Keefe, Bruyette & Woods boosted their price target on shares of Brown & Brown from $97.00 to $102.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 9th. UBS Group increased their target price on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 9th. Truist Financial upped their price objective on Brown & Brown from $118.00 to $138.00 and gave the stock a "buy" rating in a report on Tuesday. Jefferies Financial Group raised their target price on Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a report on Friday. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $128.00 price target on shares of Brown & Brown in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $117.50.

Brown & Brown Price Performance

Shares of BRO traded down $1.12 during mid-day trading on Tuesday, reaching $119.78. 713,618 shares of the company's stock were exchanged, compared to its average volume of 1,427,367. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $125.68. 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 company has a 50-day simple moving average of $116.67 and a two-hundred day simple moving average of $109.76. The company has a market cap of $34.25 billion, a price-to-earnings ratio of 34.62, a PEG ratio of 2.93 and a beta of 0.75.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, 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. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.50%. Brown & Brown's dividend payout ratio is currently 17.34%.

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.