Acropolis Investment Management LLC Buys Shares of 847 Brown & Brown, Inc. (NYSE:BRO)

Acropolis Investment Management LLC bought a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) in the first quarter, Holdings Channel.com reports. The firm bought 847 shares of the financial services provider’s stock, valued at approximately $105,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Brown & Brown by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider’s stock worth $3,054,493,000 after buying an additional 1,335,964 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Brown & Brown by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock worth $1,316,259,000 after buying an additional 94,121 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Brown & Brown by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider’s stock worth $620,737,000 after buying an additional 118,569 shares in the last quarter. Capital World Investors raised its position in shares of Brown & Brown by 15.6% during the 4th quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider’s stock worth $428,043,000 after buying an additional 566,116 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Brown & Brown by 11.4% during the 4th quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider’s stock worth $388,045,000 after buying an additional 388,411 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BRO. Morgan Stanley restated an “equal weight” rating and set a $128.00 price target on shares of Brown & Brown in a research report on Tuesday, March 25th. Edward Jones started coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They issued a “buy” rating on the stock. Jefferies Financial Group boosted their target price on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a report on Friday, April 11th. UBS Group boosted their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, April 9th. Finally, Truist Financial dropped their target price 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Brown & Brown has an average rating of “Hold” and a consensus price target of $118.85.

Brown & Brown Stock Up 0.4%

Shares of NYSE:BRO opened at $107.06 on Tuesday. Brown & Brown, Inc. has a 12 month low of $88.31 and a 12 month high of $125.68. The company’s 50-day moving average price is $112.27 and its two-hundred day moving average price is $111.00. 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 market cap of $30.69 billion, a P/E ratio of 30.94, a P/E/G ratio of 2.93 and a beta of 0.84.

Brown & Brown (NYSE:BRO) last issued its earnings results 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 during the quarter, compared to the consensus estimate 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 for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $1.14 EPS. As a group, research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown’s dividend payout ratio (DPR) is presently 16.71%.

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.