D.A. Davidson & CO. Grows Holdings in Brown & Brown, Inc. (NYSE:BRO)

D.A. Davidson & CO. raised its position in Brown & Brown, Inc. (NYSE:BRO) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,841 shares of the financial services provider’s stock after buying an additional 361 shares during the period. D.A. Davidson & CO.’s holdings in Brown & Brown were worth $3,044,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Brown & Brown in the third quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Brown & Brown in the third quarter valued at about $29,000. Y.D. More Investments Ltd grew its position in shares of Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 162 shares during the period. R Squared Ltd acquired a new stake in shares of Brown & Brown in the fourth quarter valued at about $31,000. Finally, Versant Capital Management Inc grew its position in shares of Brown & Brown by 130.7% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 234 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

BRO has been the topic of several research analyst reports. Barclays lifted their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Morgan Stanley initiated coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price on the stock. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Truist Financial boosted their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. One research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Price Performance

Shares of BRO stock opened at $111.69 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The firm’s 50-day moving average is $105.13 and its two-hundred day moving average is $105.35. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $114.15. The company has a market capitalization of $31.93 billion, a PE ratio of 32.28, a price-to-earnings-growth ratio of 2.91 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

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.