WealthPlan Investment Management LLC Lowers Holdings in Brown & Brown, Inc. (NYSE:BRO)

WealthPlan Investment Management LLC cut its stake in Brown & Brown, Inc. (NYSE:BRO) by 9.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 98,527 shares of the financial services provider’s stock after selling 10,797 shares during the period. WealthPlan Investment Management LLC’s holdings in Brown & Brown were worth $10,052,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mogy Joel R Investment Counsel Inc. grew its stake in shares of Brown & Brown by 324.3% during the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock valued at $1,967,000 after buying an additional 14,740 shares during the period. Sanctuary Advisors LLC increased its stake in Brown & Brown by 4.4% during the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock worth $18,104,000 after acquiring an additional 6,805 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Brown & Brown in the 3rd quarter worth about $9,832,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Brown & Brown by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after purchasing an additional 17,934 shares in the last quarter. Finally, EULAV Asset Management lifted its stake in shares of Brown & Brown by 144.8% in the 4th quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock valued at $43,960,000 after purchasing an additional 254,900 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

BRO has been the topic of several research reports. Morgan Stanley assumed coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target on the stock. Keefe, Bruyette & Woods cut 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 note on Friday, January 10th. Truist Financial upped their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Barclays raised their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Finally, Bank of America increased their target price on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Price Performance

Shares of BRO stock opened at $110.50 on Friday. The firm has a market cap of $31.60 billion, a P/E ratio of 31.94, a P/E/G ratio of 2.84 and a beta of 0.86. The firm has a fifty day moving average of $104.54 and a two-hundred day moving average of $105.05. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.73. Brown & Brown, Inc. has a 1-year low of $80.33 and a 1-year high of $114.15.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. As a group, research analysts anticipate that Brown & Brown, Inc. will post 4.15 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is presently 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.