Wealthcare Advisory Partners LLC Cuts Stake in Brown & Brown, Inc. (NYSE:BRO)

Wealthcare Advisory Partners LLC reduced its position in Brown & Brown, Inc. (NYSE:BRO) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,022 shares of the financial services provider’s stock after selling 1,321 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Brown & Brown were worth $3,362,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Brown & Brown in the 4th quarter valued at $28,000. Johnson Financial Group Inc. boosted its holdings in Brown & Brown by 534.1% in the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 235 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in Brown & Brown by 581.8% in the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 256 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Brown & Brown in the fourth quarter valued at $37,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Brown & Brown by 79.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 490 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 217 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on BRO. The Goldman Sachs Group lowered shares of Brown & Brown from a “buy” rating to a “neutral” rating and lowered their price target for the company from $126.00 to $119.00 in a report on Tuesday, May 13th. Edward Jones began coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They issued a “buy” rating on the stock. UBS Group upped their price target on shares of Brown & Brown from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, April 9th. Truist Financial lowered their price target on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $128.00 target price on shares of Brown & Brown in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $118.25.

Brown & Brown Trading Down 2.2%

Shares of Brown & Brown stock opened at $105.49 on Wednesday. The firm has a market capitalization of $30.23 billion, a PE ratio of 30.49, a P/E/G ratio of 2.93 and a beta of 0.84. Brown & Brown, Inc. has a twelve month low of $88.31 and a twelve month high of $125.68. The firm’s 50-day moving average price is $112.82 and its 200 day moving average price is $111.20. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 EPS. On average, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were issued 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 0.57%. Brown & Brown’s payout ratio is 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.