Journey Strategic Wealth LLC Has $458,000 Holdings in Brown & Brown, Inc. (NYSE:BRO)

Journey Strategic Wealth LLC lifted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,486 shares of the financial services provider’s stock after purchasing an additional 99 shares during the period. Journey Strategic Wealth LLC’s holdings in Brown & Brown were worth $458,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Studio Investment Management LLC boosted its position in Brown & Brown by 1.5% in the 3rd quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock valued at $675,000 after buying an additional 96 shares during the last quarter. Trust Point Inc. boosted its holdings in Brown & Brown by 4.3% in the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock valued at $261,000 after acquiring an additional 103 shares during the last quarter. CWA Asset Management Group LLC raised its holdings in Brown & Brown by 3.7% during the 4th quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 103 shares during the last quarter. Creative Planning lifted its position in Brown & Brown by 0.4% during the 3rd quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after purchasing an additional 112 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Brown & Brown by 0.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider’s stock valued at $2,375,000 after purchasing an additional 113 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

BRO has been the topic of several analyst reports. 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 report on Wednesday, October 9th. Morgan Stanley began coverage on Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target on the stock. Bank of America upped their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Wells Fargo & Company raised their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Barclays upped their price target on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. One investment 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $113.17.

Brown & Brown Price Performance

Shares of BRO opened at $104.65 on Monday. The stock has a 50 day simple moving average of $105.25 and a 200 day simple moving average of $104.32. Brown & Brown, Inc. has a 52-week low of $75.79 and a 52-week high of $114.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.73 and a current ratio of 1.79. The firm has a market capitalization of $29.93 billion, a PE ratio of 30.25, a P/E/G ratio of 2.68 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Sell-side analysts predict that Brown & Brown, Inc. will post 4.15 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

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.