Pine Valley Investments Ltd Liability Co Grows Holdings in Brown & Brown, Inc. (NYSE:BRO)

Pine Valley Investments Ltd Liability Co grew its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 14.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,417 shares of the financial services provider’s stock after acquiring an additional 571 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Brown & Brown were worth $314,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new position in shares of Brown & Brown in the 4th quarter valued at about $31,000. Park Place Capital Corp boosted its stake in Brown & Brown by 166.5% in the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 318 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Brown & Brown by 174.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 348 shares during the last quarter. Mendota Financial Group LLC acquired a new stake in shares of Brown & Brown during the 4th quarter worth approximately $42,000. Finally, Orion Capital Management LLC bought a new stake in shares of Brown & Brown in the 3rd quarter worth approximately $56,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Buying and Selling

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the sale, the chairman now owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.43% of the stock is currently owned by corporate insiders.

Brown & Brown Price Performance

Shares of NYSE BRO traded down $0.01 during mid-day trading on Tuesday, reaching $89.85. The company had a trading volume of 1,495,051 shares, compared to its average volume of 1,325,090. Brown & Brown, Inc. has a 1-year low of $61.71 and a 1-year high of $90.50. The stock has a market cap of $25.63 billion, a PE ratio of 27.65, a P/E/G ratio of 2.46 and a beta of 0.79. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $84.87 and a two-hundred day moving average price of $79.25.

Brown & Brown (NYSE:BRO) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.07 by $0.07. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the company posted $0.84 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts anticipate that Brown & Brown, Inc. will post 3.61 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Friday, May 3rd. Brown & Brown’s payout ratio is presently 16.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Bank of America lowered Brown & Brown from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $80.00 to $86.00 in a research report on Wednesday, March 13th. Truist Financial boosted their target price on shares of Brown & Brown from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods raised their price target on shares of Brown & Brown from $80.00 to $82.00 and gave the company an “underperform” rating in a research note on Friday, May 3rd. Wells Fargo & Company boosted their price objective on Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. Finally, UBS Group increased their price target on Brown & Brown from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $87.30.

About Brown & Brown

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.