Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Marshall Financial Group LLC

Marshall Financial Group LLC raised its position in Brown & Brown, Inc. (NYSE:BRO) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,677 shares of the financial services provider’s stock after acquiring an additional 316 shares during the period. Marshall Financial Group LLC’s holdings in Brown & Brown were worth $1,191,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Zurich Insurance Group Ltd FI lifted its position in Brown & Brown by 258.0% in the third quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock valued at $66,985,000 after purchasing an additional 465,988 shares during the period. Truist Financial Corp boosted its stake in shares of Brown & Brown by 392.3% in the second quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider’s stock valued at $42,287,000 after buying an additional 376,892 shares in the last quarter. Barclays PLC grew its holdings in Brown & Brown by 17.8% during the third 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 period. Handelsbanken Fonder AB raised its position in Brown & Brown by 771.5% in the third quarter. Handelsbanken Fonder AB now owns 415,134 shares of the financial services provider’s stock worth $43,008,000 after acquiring an additional 367,500 shares in the last quarter. Finally, FMR LLC lifted its holdings in Brown & Brown by 42.4% in the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after acquiring an additional 330,661 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.7 %

Shares of NYSE:BRO opened at $106.01 on Friday. The company has a market capitalization of $30.31 billion, a P/E ratio of 28.88, a P/E/G ratio of 2.12 and a beta of 0.85. The stock’s fifty day simple moving average is $105.75 and its 200-day simple moving average is $103.80. Brown & Brown, Inc. has a 52-week low of $75.79 and a 52-week high of $114.15. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results 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 company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $0.71 EPS. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.57%. Brown & Brown’s payout ratio is currently 16.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. StockNews.com cut shares of 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 stock an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group upped their price target on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Barclays lifted their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. 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. According to MarketBeat, Brown & Brown presently has an average rating of “Hold” and a consensus price target of $112.08.

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.