Cary Street Partners Financial LLC Buys Shares of 531 Brown & Brown, Inc. (NYSE:BRO)

Cary Street Partners Financial LLC bought a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 531 shares of the financial services provider’s stock, valued at approximately $54,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BRO. Journey Strategic Wealth LLC boosted its stake in Brown & Brown by 2.3% during the 4th 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. Bleakley Financial Group LLC grew its holdings in Brown & Brown by 3.4% in the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock worth $323,000 after buying an additional 103 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Brown & Brown by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 4,664 shares of the financial services provider’s stock valued at $476,000 after acquiring an additional 113 shares during the period. Lido Advisors LLC raised its stake in Brown & Brown by 2.6% during the 4th quarter. Lido Advisors LLC now owns 4,690 shares of the financial services provider’s stock valued at $479,000 after acquiring an additional 120 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in Brown & Brown by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 20,379 shares of the financial services provider’s stock worth $2,079,000 after acquiring an additional 130 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Trading Down 0.1%

Shares of NYSE BRO opened at $111.42 on Monday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12 month low of $85.97 and a 12 month high of $125.68. The company has a market cap of $31.93 billion, a price-to-earnings ratio of 32.20, a P/E/G ratio of 2.93 and a beta of 0.87. The business has a fifty day simple moving average of $117.15 and a 200-day simple moving average of $110.90.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Brown & Brown’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 EPS. Sell-side analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 12th will be given a $0.15 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.71%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Brown & Brown from $102.00 to $100.00 and set an “underperform” rating for the company in a research report on Monday, May 5th. Edward Jones assumed coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They set a “buy” rating on the stock. Barclays upped their target price on Brown & Brown from $119.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, April 11th. Morgan Stanley reaffirmed an “equal weight” rating and set a $128.00 price target on shares of Brown & Brown in a research note on Tuesday, March 25th. Finally, Jefferies Financial Group raised their target price on Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $116.67.

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.