Cyndeo Wealth Partners LLC Purchases 2,027 Shares of Brown & Brown, Inc. (NYSE:BRO)

Cyndeo Wealth Partners LLC grew its position in Brown & Brown, Inc. (NYSE:BRO) by 16.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,235 shares of the financial services provider’s stock after acquiring an additional 2,027 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Brown & Brown were worth $1,771,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider’s stock worth $3,054,493,000 after acquiring an additional 1,335,964 shares during the period. Principal Financial Group Inc. lifted its position in shares of Brown & Brown by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock worth $1,316,259,000 after acquiring an additional 94,121 shares during the period. Geode Capital Management LLC lifted its position in shares of Brown & Brown by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider’s stock worth $620,737,000 after acquiring an additional 118,569 shares during the period. Capital World Investors lifted its position in shares of Brown & Brown by 15.6% in the 4th quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider’s stock worth $428,043,000 after acquiring an additional 566,116 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Brown & Brown by 11.4% in the 4th quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider’s stock worth $388,045,000 after acquiring an additional 388,411 shares during the period. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.4%

Shares of BRO opened at $107.06 on Tuesday. The stock has a fifty day moving average price of $112.27 and a two-hundred day moving average price of $111.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a 52-week low of $88.31 and a 52-week high of $125.68. The company has a market cap of $30.69 billion, a price-to-earnings ratio of 30.94, a PEG ratio of 2.93 and a beta of 0.84.

Brown & Brown (NYSE:BRO) last issued 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). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.56%. Brown & Brown’s payout ratio is 16.71%.

Wall Street Analysts Forecast Growth

BRO has been the subject of a number of research reports. Morgan Stanley reiterated an “equal weight” rating and issued a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday, March 25th. Jefferies Financial Group raised their target price on Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. Truist Financial cut their target price on Brown & Brown from $138.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. BMO Capital Markets restated an “outperform” rating and set a $122.00 target price (up previously from $116.00) on shares of Brown & Brown in a research report on Thursday, June 12th. Finally, UBS Group raised their target price on Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Brown & Brown presently has an average rating of “Hold” and an average target price of $118.85.

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.