Brown & Brown, Inc. (NYSE:BRO) Stake Reduced by Inspire Investing LLC

Inspire Investing LLC decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 5.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,646 shares of the financial services provider’s stock after selling 695 shares during the period. Inspire Investing LLC’s holdings in Brown & Brown were worth $1,188,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mutual Advisors LLC boosted its holdings in Brown & Brown by 13.1% during the fourth quarter. Mutual Advisors LLC now owns 3,517 shares of the financial services provider’s stock worth $373,000 after buying an additional 407 shares in the last quarter. Phillips Wealth Planners LLC lifted its position in shares of Brown & Brown by 9.2% during the 4th quarter. Phillips Wealth Planners LLC now owns 2,571 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 217 shares during the last quarter. Advisory Alpha LLC boosted its stake in shares of Brown & Brown by 36.1% during the 4th quarter. Advisory Alpha LLC now owns 2,973 shares of the financial services provider’s stock worth $303,000 after acquiring an additional 788 shares in the last quarter. Genesis Private Wealth LLC acquired a new position in shares of Brown & Brown in the 4th quarter worth $219,000. Finally, Mogy Joel R Investment Counsel Inc. raised its position in shares of Brown & Brown by 324.3% during the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock worth $1,967,000 after purchasing an additional 14,740 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.0 %

Brown & Brown stock opened at $105.21 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 12 month low of $75.79 and a 12 month high of $114.15. The company’s fifty day simple moving average is $105.92 and its 200-day simple moving average is $103.59. The stock has a market cap of $30.08 billion, a P/E ratio of 28.67, a P/E/G ratio of 2.12 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Brown & Brown, Inc. will post 3.74 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, February 5th. Brown & Brown’s payout ratio is presently 16.35%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BRO shares. Jefferies Financial Group increased their price target on Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Truist Financial upped their price objective on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods reduced their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Finally, Morgan Stanley assumed coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $112.08.

Brown & Brown 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.