Heirloom Wealth Management Raises Holdings in Brown & Brown, Inc. (NYSE:BRO)

Heirloom Wealth Management increased its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,224 shares of the financial services provider’s stock after buying an additional 4,214 shares during the period. Brown & Brown comprises approximately 1.6% of Heirloom Wealth Management’s holdings, making the stock its 19th largest holding. Heirloom Wealth Management’s holdings in Brown & Brown were worth $5,328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in BRO. Blue Trust Inc. raised its holdings in shares of Brown & Brown by 44.7% in the 4th quarter. Blue Trust Inc. now owns 2,118 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 654 shares in the last quarter. Cathy Pareto & Associates Inc. bought a new position in Brown & Brown in the fourth quarter worth approximately $1,302,000. Kingswood Wealth Advisors LLC purchased a new stake in Brown & Brown during the fourth quarter worth $306,000. Marshall Financial Group LLC lifted its holdings in Brown & Brown by 2.8% during the fourth quarter. Marshall Financial Group LLC now owns 11,677 shares of the financial services provider’s stock worth $1,191,000 after buying an additional 316 shares during the period. Finally, Running Oak Capital LLC boosted its position in Brown & Brown by 6.6% during the 4th quarter. Running Oak Capital LLC now owns 139,759 shares of the financial services provider’s stock valued at $14,258,000 after acquiring an additional 8,688 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Price Performance

NYSE BRO opened at $106.01 on Monday. The company has a market cap of $30.31 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 2.12 and a beta of 0.85. 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 stock’s fifty day moving average price is $105.75 and its 200 day moving average price is $103.89. Brown & Brown, Inc. has a 1 year low of $75.79 and a 1 year high of $114.15.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share 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 business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company earned $0.71 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts forecast that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on BRO shares. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Wells Fargo & Company increased their price target on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Barclays lifted their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Bank of America boosted their price objective on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley began coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $112.08.

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.