Clarius Group LLC Takes $322,000 Position in Brown & Brown, Inc. (NYSE:BRO)

Clarius Group LLC acquired a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,587 shares of the financial services provider’s stock, valued at approximately $322,000.

Several other institutional investors have also bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Brown & Brown in the 4th quarter worth approximately $28,000. Johnson Financial Group Inc. raised its holdings in Brown & Brown by 534.1% during the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 235 shares in the last quarter. Sunbelt Securities Inc. lifted its position in Brown & Brown by 581.8% in the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 256 shares during the period. SBI Securities Co. Ltd. bought a new position in Brown & Brown during the 4th quarter valued at $37,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Brown & Brown by 79.5% during the 4th 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. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Jefferies Financial Group boosted their price objective on Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. Wells Fargo & Company reiterated an “overweight” rating and issued a $127.00 target price (up from $125.00) on shares of Brown & Brown in a report on Thursday, June 12th. Keefe, Bruyette & Woods upped their price target on Brown & Brown from $100.00 to $102.00 and gave the company an “underperform” rating in a report on Friday, June 13th. Truist Financial decreased their target price on Brown & Brown from $138.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $122.00 price target (up previously from $116.00) on shares of Brown & Brown in a research note on Thursday, June 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $118.85.

Brown & Brown Stock Performance

BRO stock opened at $108.31 on Friday. The stock has a market cap of $31.05 billion, a P/E ratio of 30.17, a P/E/G ratio of 2.38 and a beta of 0.84. 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 firm has a 50 day simple moving average of $111.77 and a 200 day simple moving average of $110.94. Brown & Brown, Inc. has a 52 week low of $88.31 and a 52 week high of $125.68.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data 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). Brown & Brown had a return on equity of 17.77% and a net margin of 20.84%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the business posted $1.14 earnings per share. Brown & Brown’s revenue was up 11.6% on a year-over-year basis. Research analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently announced 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 0.55%. The ex-dividend date was Monday, May 12th. Brown & Brown’s dividend payout ratio (DPR) 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.