Brown & Brown, Inc. (NYSE:BRO) Stake Boosted by Running Oak Capital LLC

Running Oak Capital LLC raised its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,759 shares of the financial services provider's stock after acquiring an additional 8,688 shares during the quarter. Brown & Brown accounts for about 1.9% of Running Oak Capital LLC's investment portfolio, making the stock its 19th largest holding. Running Oak Capital LLC's holdings in Brown & Brown were worth $14,258,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BRO. Studio Investment Management LLC raised its position in shares of Brown & Brown by 1.5% in the 3rd quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider's stock valued at $675,000 after purchasing an additional 96 shares in the last quarter. Trust Point Inc. increased its stake in shares of Brown & Brown by 4.3% in the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider's stock worth $261,000 after buying an additional 103 shares during the last quarter. CWA Asset Management Group LLC raised its holdings in Brown & Brown by 3.7% in the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider's stock valued at $297,000 after acquiring an additional 103 shares in the last quarter. Creative Planning boosted its stake in Brown & Brown by 0.4% during the 3rd quarter. Creative Planning now owns 29,892 shares of the financial services provider's stock valued at $3,097,000 after acquiring an additional 112 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its holdings in Brown & Brown by 0.5% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider's stock worth $2,375,000 after acquiring an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. StockNews.com downgraded Brown & Brown from a "buy" rating to a "hold" rating in a report on Saturday, November 2nd. Royal Bank of Canada boosted their price target on Brown & Brown from $113.00 to $118.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their price objective on Brown & Brown from $112.00 to $114.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group boosted their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $112.08.

Brown & Brown Stock Performance

NYSE:BRO traded up $0.78 during mid-day trading on Friday, hitting $106.01. The stock had a trading volume of 1,480,167 shares, compared to its average volume of 1,201,046. Brown & Brown, Inc. has a 52 week low of $75.79 and a 52 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. The stock has a market capitalization of $30.31 billion, a price-to-earnings ratio of 28.88, a P/E/G ratio of 2.12 and a beta of 0.85. The company has a 50 day simple moving average of $105.75 and a 200-day simple moving average of $103.70.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business's revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. On average, research analysts expect that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

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 paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Wednesday, February 5th. Brown & Brown's dividend payout ratio is currently 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.