Prescott Group Capital Management L.L.C. Acquires 1,102 Shares of Brown & Brown, Inc. $BRO

Prescott Group Capital Management L.L.C. raised its holdings in Brown & Brown, Inc. (NYSE:BRO) by 41.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,768 shares of the financial services provider’s stock after purchasing an additional 1,102 shares during the quarter. Prescott Group Capital Management L.L.C.’s holdings in Brown & Brown were worth $418,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BRO. M&T Bank Corp boosted its stake in Brown & Brown by 56.8% in the first quarter. M&T Bank Corp now owns 14,693 shares of the financial services provider’s stock valued at $1,828,000 after buying an additional 5,323 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Brown & Brown by 103.6% in the first quarter. Axxcess Wealth Management LLC now owns 4,253 shares of the financial services provider’s stock worth $529,000 after acquiring an additional 2,164 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Brown & Brown by 36.6% in the 1st quarter. Allworth Financial LP now owns 960 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 257 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Brown & Brown by 2.4% in the 1st quarter. Cerity Partners LLC now owns 49,275 shares of the financial services provider’s stock valued at $6,130,000 after purchasing an additional 1,136 shares in the last quarter. Finally, Xponance Inc. grew its holdings in shares of Brown & Brown by 0.8% during the 1st quarter. Xponance Inc. now owns 44,168 shares of the financial services provider’s stock valued at $5,494,000 after purchasing an additional 372 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

BRO has been the subject of several research reports. UBS Group dropped their price objective on shares of Brown & Brown from $120.00 to $106.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a report on Monday, November 3rd. Citigroup downgraded Brown & Brown from a “buy” rating to a “neutral” rating in a report on Monday, November 3rd. Keefe, Bruyette & Woods reduced their price objective on Brown & Brown from $92.00 to $79.00 and set an “underperform” rating on the stock in a research report on Tuesday, November 4th. Finally, Truist Financial lowered their target price on Brown & Brown from $120.00 to $114.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $105.23.

Brown & Brown Stock Performance

Shares of Brown & Brown stock opened at $78.51 on Friday. The stock has a market cap of $26.81 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 1.70 and a beta of 0.77. Brown & Brown, Inc. has a twelve month low of $76.17 and a twelve month high of $125.68. The company’s fifty day moving average is $90.31 and its 200 day moving average is $100.11. The company has a quick ratio of 6.72, a current ratio of 2.10 and a debt-to-equity ratio of 0.62.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.15. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the company earned $0.91 EPS. Brown & Brown’s revenue for the quarter was up 35.4% compared to the same quarter last year. Sell-side analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th will be paid a $0.165 dividend. This is an increase from Brown & Brown’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 5th. Brown & Brown’s payout ratio is presently 19.76%.

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.