Net Worth Advisory Group Acquires Shares of 2,689 Brown & Brown, Inc. (NYSE:BRO)

Net Worth Advisory Group acquired a new stake in Brown & Brown, Inc. (NYSE:BRO) during the first quarter, Holdings Channel.com reports. The fund acquired 2,689 shares of the financial services provider’s stock, valued at approximately $334,000.

Other large investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Brown & Brown during the fourth quarter valued at about $28,000. Johnson Financial Group Inc. lifted its position in shares of Brown & Brown by 534.1% during 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 in the last quarter. Sunbelt Securities Inc. lifted its position in shares of Brown & Brown by 581.8% during 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 in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Brown & Brown during the fourth quarter valued at about $37,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Brown & Brown by 79.5% during 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 in the last quarter. 71.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a research report on Friday, April 11th. BMO Capital Markets raised their price target on shares of Brown & Brown from $116.00 to $122.00 and gave the company an “outperform” rating in a research report on Thursday. Barclays raised their price target on shares of Brown & Brown from $119.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, April 11th. Truist Financial decreased their price objective on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Finally, Morgan Stanley restated an “equal weight” rating and set a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $118.69.

Brown & Brown Price Performance

BRO opened at $106.88 on Friday. The company has a market capitalization of $30.63 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 2.93 and a beta of 0.84. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $112.49 and a 200-day moving average price of $111.12. Brown & Brown, Inc. has a twelve month low of $88.31 and a twelve month 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 for the quarter, missing the consensus estimate of $1.30 by ($0.01). The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations 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 business earned $1.14 EPS. Equities analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.56%. Brown & Brown’s dividend payout ratio is currently 16.71%.

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.