Cathy Pareto & Associates Inc. Buys Shares of 12,761 Brown & Brown, Inc. (NYSE:BRO)

Cathy Pareto & Associates Inc. acquired a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,761 shares of the financial services provider’s stock, valued at approximately $1,302,000. Brown & Brown comprises approximately 1.2% of Cathy Pareto & Associates Inc.’s portfolio, making the stock its 23rd largest holding.

A number of other large investors have also made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in shares of Brown & Brown in the 3rd quarter worth approximately $26,000. ST Germain D J Co. Inc. boosted its position in Brown & Brown by 298.5% during the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Brown & Brown in the third quarter worth about $29,000. Versant Capital Management Inc grew its position in Brown & Brown by 130.7% in the 4th 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 last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Brown & Brown during the third quarter valued at about $58,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

BRO has been the topic of several analyst reports. Truist Financial increased their price objective on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. 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 note on Thursday, November 21st. Jefferies Financial Group increased their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Bank of America raised their price objective on shares of 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 issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and a consensus price target of $112.08.

Brown & Brown Stock Up 0.7 %

Shares of Brown & Brown stock opened at $106.01 on Monday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. The business’s 50 day simple moving average is $105.75 and its 200-day simple moving average is $103.89. The stock has a market capitalization of $30.31 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 2.12 and a beta of 0.85. Brown & Brown, Inc. has a twelve month low of $75.79 and a twelve month high of $114.15.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share 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 business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company posted $0.71 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. 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 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. 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 presently 16.35%.

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.