Evermay Wealth Management LLC Sells 485 Shares of Brown & Brown, Inc. (NYSE:BRO)

Evermay Wealth Management LLC lessened its holdings in Brown & Brown, Inc. (NYSE:BRO) by 2.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,495 shares of the financial services provider’s stock after selling 485 shares during the period. Evermay Wealth Management LLC’s holdings in Brown & Brown were worth $2,052,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital Investment Advisors LLC purchased a new stake in Brown & Brown in the 1st quarter worth approximately $1,929,000. GW&K Investment Management LLC increased its holdings in Brown & Brown by 104.4% in the 1st quarter. GW&K Investment Management LLC now owns 419 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 214 shares in the last quarter. Fifth Third Bancorp increased its holdings in Brown & Brown by 7.1% in the 1st quarter. Fifth Third Bancorp now owns 6,807 shares of the financial services provider’s stock worth $847,000 after acquiring an additional 450 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Brown & Brown by 395.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider’s stock worth $3,489,000 after acquiring an additional 27,297 shares in the last quarter. Finally, Tandem Investment Advisors Inc. increased its holdings in Brown & Brown by 2.5% in the 1st quarter. Tandem Investment Advisors Inc. now owns 764,709 shares of the financial services provider’s stock worth $95,130,000 after acquiring an additional 18,677 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays reduced their target price on shares of Brown & Brown from $121.00 to $111.00 and set an “equal weight” rating for the company in a report on Monday, July 7th. Keefe, Bruyette & Woods increased their target price on shares of Brown & Brown from $102.00 to $104.00 and gave the stock an “underperform” rating in a report on Wednesday, July 9th. Truist Financial reduced their target price 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. UBS Group increased 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, Wells Fargo & Company reaffirmed an “overweight” rating and set a $127.00 price objective (up from $125.00) on shares of Brown & Brown in a report on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Brown & Brown presently has an average rating of “Hold” and an average price target of $118.92.

Brown & Brown Stock Up 0.6%

NYSE BRO opened at $103.38 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 2.52. The company has a market capitalization of $29.64 billion, a P/E ratio of 28.80, a P/E/G ratio of 2.26 and a beta of 0.82. Brown & Brown, Inc. has a one year low of $97.61 and a one year high of $125.68. The stock has a 50 day moving average price of $108.34 and a 200-day moving average price of $111.61.

Brown & Brown (NYSE:BRO) last posted its earnings results 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 firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 earnings per share. As a group, equities analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Wednesday, August 13th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $0.60 dividend on an annualized basis and a yield of 0.58%. Brown & Brown’s dividend payout ratio is presently 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.