Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC increased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 8.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,945 shares of the financial services provider’s stock after purchasing an additional 746 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Brown & Brown were worth $1,237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wayfinding Financial LLC acquired a new position in Brown & Brown in the 1st quarter valued at about $88,000. Truist Financial Corp grew its position in Brown & Brown by 0.4% in the 1st quarter. Truist Financial Corp now owns 280,297 shares of the financial services provider’s stock valued at $34,869,000 after acquiring an additional 1,163 shares in the last quarter. IFM Investors Pty Ltd grew its position in Brown & Brown by 16.2% in the 1st quarter. IFM Investors Pty Ltd now owns 53,693 shares of the financial services provider’s stock valued at $6,679,000 after acquiring an additional 7,472 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Brown & Brown in the 1st quarter valued at about $630,000. Finally, Silver Oak Securities Incorporated acquired a new position in Brown & Brown in the 1st quarter valued at about $646,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $107.28 on Wednesday. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. Brown & Brown, Inc. has a twelve month low of $89.92 and a twelve month high of $125.68. The stock has a 50 day moving average of $109.76 and a two-hundred day moving average of $111.30. The stock has a market cap of $30.76 billion, a P/E ratio of 29.88, a P/E/G ratio of 2.36 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. Brown & Brown’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

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

Analysts Set New Price Targets

BRO has been the subject of several recent research reports. The Goldman Sachs Group cut Brown & Brown from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $126.00 to $119.00 in a research note on Tuesday, May 13th. Jefferies Financial Group lifted their price objective on Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a research note on Friday, April 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $122.00 price objective (up previously from $116.00) on shares of Brown & Brown in a research note on Thursday, June 12th. Barclays decreased their price objective on Brown & Brown from $121.00 to $111.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, UBS Group lifted their price objective on Brown & Brown from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, April 9th. One 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $118.08.

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.