Tandem Investment Advisors Inc. Decreases Stock Holdings in Brown & Brown, Inc. $BRO

Tandem Investment Advisors Inc. lowered its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 6.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,291,818 shares of the financial services provider’s stock after selling 93,396 shares during the quarter. Brown & Brown makes up about 3.8% of Tandem Investment Advisors Inc.’s investment portfolio, making the stock its 13th biggest position. Tandem Investment Advisors Inc.’s holdings in Brown & Brown were worth $102,958,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its position in shares of Brown & Brown by 423.1% during the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $26,000 after buying an additional 220 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Brown & Brown in the 2nd quarter worth approximately $30,000. Board of the Pension Protection Fund bought a new position in shares of Brown & Brown during the 4th quarter worth approximately $40,000. Maseco LLP bought a new position in shares of Brown & Brown during the 4th quarter worth approximately $60,000. Finally, eCIO Inc. purchased a new stake in Brown & Brown during the fourth quarter valued at approximately $67,000. 71.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Brown & Brown news, Director H Palmer Proctor, Jr. acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average cost of $57.10 per share, with a total value of $114,200.00. Following the acquisition, the director directly owned 47,621 shares of the company’s stock, valued at approximately $2,719,159.10. The trade was a 4.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 13.13% of the company’s stock.

Brown & Brown Stock Up 0.1%

Brown & Brown stock opened at $57.86 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64. The business’s 50-day simple moving average is $63.48 and its two-hundred day simple moving average is $71.92. The company has a market cap of $19.61 billion, a PE ratio of 18.61, a PEG ratio of 2.67 and a beta of 0.66. Brown & Brown, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $113.83.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the business posted $1.29 earnings per share. The company’s revenue for the quarter was up 35.4% compared to the same quarter last year. Equities analysts anticipate that Brown & Brown, Inc. will post 4.5 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.66 dividend on an annualized basis and a yield of 1.1%. Brown & Brown’s dividend payout ratio (DPR) is currently 21.22%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. BMO Capital Markets cut their price target on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a report on Thursday, January 29th. JPMorgan Chase & Co. lowered their price objective on Brown & Brown from $91.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Barclays decreased their price objective on shares of Brown & Brown from $80.00 to $72.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. UBS Group reiterated a “neutral” rating and issued a $81.00 target price (down from $90.00) on shares of Brown & Brown in a research note on Thursday, January 29th. Finally, Truist Financial dropped their target price on shares of Brown & Brown from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $79.44.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.