Mercer Global Advisors Inc. ADV Sells 8,064 Shares of Brown & Brown, Inc. (NYSE:BRO)

Mercer Global Advisors Inc. ADV trimmed its position in Brown & Brown, Inc. (NYSE:BRO) by 46.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,185 shares of the financial services provider’s stock after selling 8,064 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Brown & Brown were worth $937,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BRO. Kohmann Bosshard Financial Services LLC purchased a new position in Brown & Brown during the fourth quarter worth about $28,000. Johnson Financial Group Inc. increased its position in shares of Brown & Brown by 534.1% in the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 235 shares during the last quarter. Y.D. More Investments Ltd raised its stake in Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 162 shares in the last quarter. R Squared Ltd bought a new stake in Brown & Brown during the fourth quarter valued at approximately $31,000. Finally, SBI Securities Co. Ltd. purchased a new position in Brown & Brown in the 4th quarter worth approximately $37,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Stock Down 0.1 %

NYSE BRO opened at $111.42 on Friday. The business’s 50-day moving average is $117.15 and its 200 day moving average is $110.86. The stock has a market capitalization of $31.93 billion, a PE ratio of 32.20, a PEG ratio of 2.93 and a beta of 0.87. 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 1 year low of $85.97 and a 1 year high of $125.68.

Brown & Brown (NYSE:BRO) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the firm posted $1.14 earnings per share. Brown & Brown’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

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

Analyst Upgrades and Downgrades

BRO has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods dropped their price objective on shares of Brown & Brown from $102.00 to $100.00 and set an “underperform” rating for the company in a report on Monday, May 5th. Wells Fargo & Company lifted their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Edward Jones started coverage on Brown & Brown in a report on Wednesday, April 16th. They set a “buy” rating on the stock. 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 research note on Friday, April 11th. Finally, Truist Financial decreased their price target on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.