Insight Wealth Strategies LLC Boosts Holdings in Brown & Brown, Inc. (NYSE:BRO)

Insight Wealth Strategies LLC grew its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 39.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,524 shares of the financial services provider’s stock after acquiring an additional 10,301 shares during the period. Insight Wealth Strategies LLC’s holdings in Brown & Brown were worth $4,544,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Legacy Wealth Management LLC MS bought a new position in Brown & Brown during the first quarter valued at about $204,000. 111 Capital purchased a new position in Brown & Brown in the 4th quarter worth about $208,000. Wealth Enhancement Advisory Services LLC raised its holdings in Brown & Brown by 206.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 42,456 shares of the financial services provider’s stock worth $4,331,000 after buying an additional 28,603 shares during the period. Wood Tarver Financial Group LLC purchased a new position in Brown & Brown during the 4th quarter worth approximately $202,000. Finally, Siemens Fonds Invest GmbH lifted its stake in Brown & Brown by 6.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 9,138 shares of the financial services provider’s stock worth $932,000 after acquiring an additional 567 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Trading Down 1.1%

Shares of BRO stock opened at $110.85 on Thursday. The firm has a 50-day moving average price of $115.06 and a 200 day moving average price of $111.21. The company has a market capitalization of $31.77 billion, a P/E ratio of 32.04, a P/E/G ratio of 2.93 and a beta of 0.87. 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.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 earnings per share. Research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were paid a $0.15 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. Brown & Brown’s payout ratio is 16.71%.

Analyst Ratings Changes

BRO has been the subject of several research reports. Edward Jones began coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They set a “buy” rating for the company. Truist Financial decreased their price target on Brown & Brown from $138.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods decreased 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. Morgan Stanley restated an “equal weight” rating and set a $128.00 price target on shares of Brown & Brown in a report on Tuesday, March 25th. Finally, UBS Group boosted their price objective 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 equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Brown & Brown has an average rating of “Hold” and a consensus price target of $116.85.

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.