WealthPLAN Partners LLC Reduces Position in Brown & Brown, Inc. (NYSE:BRO)

WealthPLAN Partners LLC lessened its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,337 shares of the financial services provider’s stock after selling 317 shares during the period. WealthPLAN Partners LLC’s holdings in Brown & Brown were worth $5,237,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Studio Investment Management LLC boosted its holdings in shares of Brown & Brown by 1.5% in the third 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 during the period. Journey Strategic Wealth LLC boosted its holdings in shares of Brown & Brown by 2.3% in the fourth quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock valued at $458,000 after purchasing an additional 99 shares during the period. Trust Point Inc. boosted its holdings 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 valued at $261,000 after purchasing an additional 103 shares during the period. CWA Asset Management Group LLC boosted its holdings in shares of 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 purchasing an additional 103 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Brown & Brown by 3.4% in the fourth quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 103 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of BRO stock opened at $110.50 on Friday. The business’s fifty day simple moving average is $104.54 and its 200-day simple moving average is $105.05. The company has a market cap of $31.60 billion, a PE ratio of 31.94, a PEG ratio of 2.84 and a beta of 0.86. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $114.15.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Analysts expect 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. Investors of record on Wednesday, February 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s payout ratio is 17.34%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Truist Financial boosted their price target on 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 lowered their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Wells Fargo & Company upped their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, Barclays upped their target price 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 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Company 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.