Atlas Legacy Advisors LLC Takes $939,000 Position in Brown & Brown, Inc. (NYSE:BRO)

Atlas Legacy Advisors LLC bought a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) in the 4th quarter, Holdings Channel reports. The fund bought 9,207 shares of the financial services provider’s stock, valued at approximately $939,000.

Other large investors have also modified their holdings of the company. Mogy Joel R Investment Counsel Inc. lifted its position in shares of Brown & Brown by 324.3% during the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock worth $1,967,000 after purchasing an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of 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 purchasing an additional 6,805 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Brown & Brown by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock worth $136,302,000 after purchasing an additional 17,934 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Brown & Brown during the third quarter worth about $9,832,000. Finally, EULAV Asset Management lifted its position in shares of Brown & Brown by 144.8% during the fourth quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock worth $43,960,000 after purchasing an additional 254,900 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

BRO opened at $111.43 on Wednesday. The business’s 50 day moving average is $104.64 and its 200-day moving average is $105.19. The stock has a market cap of $31.86 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 2.90 and a beta of 0.86. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a twelve month low of $80.33 and a twelve month high of $114.15.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating 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%. On average, analysts predict that Brown & Brown, Inc. will post 4.17 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. Brown & Brown’s dividend payout ratio is presently 17.34%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BRO shares. Keefe, Bruyette & Woods reduced their price target 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, January 10th. Morgan Stanley started coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price on the stock. Truist Financial raised their target price 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. Barclays raised their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Finally, Wells Fargo & Company raised their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $113.17.

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.