MJP Associates Inc. ADV Purchases Shares of 5,311 Brown & Brown, Inc. (NYSE:BRO)

MJP Associates Inc. ADV purchased a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 5,311 shares of the financial services provider’s stock, valued at approximately $542,000.

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

Brown & Brown Price Performance

BRO stock opened at $111.42 on Monday. Brown & Brown, Inc. has a one year low of $85.97 and a one year high of $125.68. The company’s fifty day moving average price is $117.15 and its 200-day moving average price is $110.90. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market capitalization of $31.93 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 2.93 and a beta of 0.87.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. 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 prior year, the firm posted $1.14 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

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

Analysts Set New Price Targets

BRO has been the topic of a number of recent analyst reports. Edward Jones initiated coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They set a “buy” rating on the stock. UBS Group boosted their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, April 9th. Truist Financial cut their target price on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Royal Bank of Canada boosted their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Bank of America boosted their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.