Virtus ETF Advisers LLC Has $1.14 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Virtus ETF Advisers LLC raised its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 24.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,134 shares of the financial services provider’s stock after purchasing an additional 2,206 shares during the period. Virtus ETF Advisers LLC’s holdings in Brown & Brown were worth $1,136,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Mogy Joel R Investment Counsel Inc. increased its stake in shares of Brown & Brown by 324.3% in 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 purchasing an additional 14,740 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Brown & Brown by 395.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider’s stock valued at $3,489,000 after buying an additional 27,297 shares in the last quarter. National Bank of Canada FI grew its position in Brown & Brown by 56.8% in the fourth quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider’s stock valued at $19,365,000 after acquiring an additional 68,745 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Brown & Brown by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock worth $138,394,000 after acquiring an additional 40,881 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Brown & Brown by 19.9% in the fourth quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock worth $31,055,000 after acquiring an additional 50,510 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

Shares of BRO stock opened at $114.29 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown, Inc. has a one year low of $80.87 and a one year high of $125.68. The business’s 50 day simple moving average is $118.02 and its 200 day simple moving average is $110.47. The stock has a market capitalization of $32.68 billion, a PE ratio of 33.03, a PEG ratio of 2.93 and a beta of 0.75.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Bank of America upped their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Royal Bank of Canada raised their price objective on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Jefferies Financial Group upped their target price on Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a report on Friday, April 11th. Finally, Truist Financial lifted their price target on Brown & Brown from $118.00 to $138.00 and gave the company a “buy” rating in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $117.50.

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.