Tower Wealth Partners Inc. Boosts Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Tower Wealth Partners Inc. lifted its position in Brown & Brown, Inc. (NYSE:BRO) by 19.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,356 shares of the financial services provider’s stock after buying an additional 389 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Brown & Brown were worth $293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Brown & Brown in the 4th quarter valued at $28,000. Johnson Financial Group Inc. raised its holdings 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 valued at $29,000 after buying an additional 235 shares during the period. Y.D. More Investments Ltd raised its holdings 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 valued at $30,000 after buying an additional 162 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of Brown & Brown by 581.8% in the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider’s stock valued at $31,000 after buying an additional 256 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Brown & Brown in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BRO. Truist Financial cut their price objective on Brown & Brown from $138.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Jefferies Financial Group boosted their price objective on Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a report on Friday, April 11th. UBS Group boosted their price objective on Brown & Brown from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, April 9th. Edward Jones initiated coverage on Brown & Brown in a research note on Wednesday, April 16th. They set a “buy” rating for the company. Finally, The Goldman Sachs Group cut Brown & Brown from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $126.00 to $119.00 in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $118.25.

Brown & Brown Trading Up 0.6%

BRO opened at $110.65 on Friday. Brown & Brown, Inc. has a 12 month low of $88.31 and a 12 month high of $125.68. The stock has a market capitalization of $31.71 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 2.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The business has a fifty day moving average price of $113.53 and a 200 day moving average price of $111.26.

Brown & Brown (NYSE:BRO) last released 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). The business 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%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.14 earnings per share. Sell-side analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

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

Brown & Brown 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.