Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC raised its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 6.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,483 shares of the financial services provider’s stock after buying an additional 406 shares during the period. Kestra Private Wealth Services LLC’s holdings in Brown & Brown were worth $661,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. increased its stake in shares of Brown & Brown by 80.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 58,915 shares of the financial services provider’s stock valued at $6,011,000 after acquiring an additional 26,325 shares during the period. Howland Capital Management LLC acquired a new position in shares of Brown & Brown during the 4th quarter valued at $526,000. RFP Financial Group LLC bought a new stake in shares of Brown & Brown in the 4th quarter worth $201,000. Empowered Funds LLC lifted its holdings in shares of Brown & Brown by 6.6% in the fourth quarter. Empowered Funds LLC now owns 22,046 shares of the financial services provider’s stock valued at $2,249,000 after buying an additional 1,362 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its stake in Brown & Brown by 41.5% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 791 shares of the financial services provider’s stock valued at $81,000 after buying an additional 232 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Truist Financial upped their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods reduced their target price 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. Bank of America lifted their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Wells Fargo & Company increased their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley started coverage on Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $113.17.

Brown & Brown Price Performance

NYSE BRO opened at $110.50 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.73. The firm has a market capitalization of $31.60 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 2.84 and a beta of 0.86. The company has a 50 day simple moving average of $104.54 and a 200-day simple moving average of $105.05. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $114.15.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Equities research analysts predict that Brown & Brown, Inc. will post 4.15 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.54%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s payout ratio is currently 17.34%.

About Brown & Brown

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.