Brown & Brown, Inc. (NYSE:BRO) Holdings Lifted by Monte Financial Group LLC

Monte Financial Group LLC raised its holdings in Brown & Brown, Inc. (NYSE:BRO) by 26.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,258 shares of the financial services provider’s stock after acquiring an additional 2,142 shares during the quarter. Monte Financial Group LLC’s holdings in Brown & Brown were worth $1,047,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in BRO. Brooklyn Investment Group acquired a new stake in Brown & Brown during the third quarter valued at approximately $26,000. ST Germain D J Co. Inc. boosted its stake in shares of Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Brown & Brown in the 3rd quarter worth $29,000. Versant Capital Management Inc raised its position in shares of Brown & Brown by 130.7% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 234 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Brown & Brown during the third quarter valued at $58,000. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.7 %

BRO stock opened at $106.01 on Friday. The firm has a market cap of $30.31 billion, a PE ratio of 28.88, a PEG ratio of 2.12 and a beta of 0.85. Brown & Brown, Inc. has a 1 year low of $75.79 and a 1 year high of $114.15. The company has a fifty day simple moving average of $105.75 and a 200 day simple moving average of $103.70. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts anticipate 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. Stockholders of record on Wednesday, February 5th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.57%. Brown & Brown’s dividend payout ratio is 16.35%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays upped their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods reduced their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Morgan Stanley began coverage on Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target on the stock. Royal Bank of Canada raised their price objective on Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Truist Financial upped their target price on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $112.08.

About Brown & Brown

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.