Phillips Wealth Planners LLC boosted its stake in Brown & Brown, Inc. (NYSE:BRO – Free Report) by 9.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,571 shares of the financial services provider’s stock after purchasing an additional 217 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Brown & Brown were worth $262,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BRO. Studio Investment Management LLC boosted its position in Brown & Brown by 1.5% during the third quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock valued at $675,000 after purchasing an additional 96 shares during the last quarter. Trust Point Inc. boosted its position in Brown & Brown by 4.3% during the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 103 shares during the last quarter. CWA Asset Management Group LLC boosted its position in Brown & Brown by 3.7% during the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 103 shares during the last quarter. Creative Planning raised its stake in Brown & Brown by 0.4% in the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after buying an additional 112 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in Brown & Brown by 0.5% in the third quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider’s stock valued at $2,375,000 after buying an additional 113 shares during the period. Institutional investors own 71.01% of the company’s stock.
Brown & Brown Price Performance
Brown & Brown stock opened at $105.22 on Thursday. The stock’s fifty day moving average price is $105.92 and its two-hundred day moving average price is $103.59. Brown & Brown, Inc. has a one year low of $75.79 and a one year high of $114.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market cap of $30.09 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85.
Brown & Brown Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.57%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.35%.
Analysts Set New Price Targets
BRO has been the topic of several research analyst reports. Truist Financial upped their price objective on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their price objective on Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays upped their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Jefferies Financial Group upped their price objective on Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Bank of America upped their price objective on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $112.08.
Check Out Our Latest Stock Analysis on Brown & Brown
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.
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