ORG Wealth Partners LLC Decreases Holdings in Brown & Brown, Inc. (NYSE:BRO)

ORG Wealth Partners LLC decreased its stake in Brown & Brown, Inc. (NYSE:BRO) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,099 shares of the financial services provider’s stock after selling 404 shares during the period. ORG Wealth Partners LLC’s holdings in Brown & Brown were worth $622,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Brown & Brown by 24.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock valued at $311,979,000 after purchasing an additional 687,783 shares during the period. Zurich Insurance Group Ltd FI raised its holdings in shares of Brown & Brown by 258.0% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock valued at $66,985,000 after acquiring an additional 465,988 shares in the last quarter. Truist Financial Corp lifted its position in Brown & Brown by 392.3% during the second quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider’s stock valued at $42,287,000 after purchasing an additional 376,892 shares during the last quarter. Barclays PLC lifted its holdings in shares of Brown & Brown by 17.8% during the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after acquiring an additional 371,980 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in Brown & Brown by 771.5% during the third quarter. Handelsbanken Fonder AB now owns 415,134 shares of the financial services provider’s stock valued at $43,008,000 after purchasing an additional 367,500 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Argus assumed coverage on Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price objective on the stock. Morgan Stanley started coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target on the stock. Truist Financial boosted their price objective on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods decreased their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday. Finally, Wells Fargo & Company lifted their price objective on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. One 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $112.08.

Brown & Brown Stock Down 0.8 %

BRO stock traded down $0.80 during midday trading on Friday, hitting $101.73. The stock had a trading volume of 482,734 shares, compared to its average volume of 1,222,136. The business has a 50-day moving average of $106.87 and a two-hundred day moving average of $102.62. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market cap of $29.09 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 2.40 and a beta of 0.85. Brown & Brown, Inc. has a 52-week low of $72.19 and a 52-week high of $114.15.

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

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

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.