Tandem Investment Advisors Inc. Grows Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Tandem Investment Advisors Inc. grew its holdings in Brown & Brown, Inc. (NYSE:BRO) by 2.4% during the 4th quarter, Holdings Channel reports. The fund owned 717,214 shares of the financial services provider’s stock after purchasing an additional 17,113 shares during the period. Brown & Brown makes up about 2.0% of Tandem Investment Advisors Inc.’s holdings, making the stock its 29th largest holding. Tandem Investment Advisors Inc.’s holdings in Brown & Brown were worth $51,001,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BRO. Clear Street Markets LLC boosted its holdings in shares of Brown & Brown by 93.7% in the 1st quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 223 shares during the last quarter. First Capital Advisors Group LLC. acquired a new position in shares of Brown & Brown in the 2nd quarter valued at $26,000. Fortitude Family Office LLC acquired a new position in shares of Brown & Brown in the 4th quarter valued at $31,000. Park Place Capital Corp lifted its stake in shares of Brown & Brown by 166.5% in the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 318 shares during the period. Finally, GPS Wealth Strategies Group LLC lifted its stake in shares of Brown & Brown by 150.6% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 354 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BRO has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of Brown & Brown from $81.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Bank of America cut shares of Brown & Brown from a “neutral” rating to an “underperform” rating and boosted their target price for the company from $80.00 to $86.00 in a research note on Wednesday, March 13th. StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a research note on Sunday, March 17th. The Goldman Sachs Group upgraded shares of Brown & Brown from a “neutral” rating to a “buy” rating and decreased their target price for the company from $84.00 to $83.00 in a research note on Monday, January 8th. Finally, Truist Financial upped their price objective on shares of Brown & Brown from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $86.80.

Brown & Brown Price Performance

NYSE:BRO traded down $0.30 during trading hours on Wednesday, reaching $80.62. 1,016,289 shares of the company were exchanged, compared to its average volume of 1,328,787. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.58. The stock’s 50-day moving average is $84.15 and its 200-day moving average is $76.58. The firm has a market cap of $23.00 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78. Brown & Brown, Inc. has a twelve month low of $59.91 and a twelve month high of $87.99.

Brown & Brown (NYSE:BRO) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $1.03 billion during the quarter. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. During the same quarter last year, the company earned $0.50 earnings per share. On average, sell-side analysts anticipate that Brown & Brown, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the sale, the chairman now directly owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 16.43% of the company’s stock.

Brown & Brown Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.