Ferguson Wellman Capital Management Inc. Cuts Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Ferguson Wellman Capital Management Inc. lowered its stake in Brown & Brown, Inc. (NYSE:BRO) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 304,391 shares of the financial services provider’s stock after selling 3,001 shares during the quarter. Ferguson Wellman Capital Management Inc. owned about 0.11% of Brown & Brown worth $31,054,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mogy Joel R Investment Counsel Inc. lifted its position in shares of Brown & Brown by 324.3% in the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock worth $1,967,000 after buying an additional 14,740 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Brown & Brown by 4.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock worth $18,104,000 after acquiring an additional 6,805 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Brown & Brown during the 3rd quarter valued at approximately $9,832,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Brown & Brown by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after purchasing an additional 17,934 shares in the last quarter. Finally, Peak Financial Advisors LLC bought a new stake in Brown & Brown in the fourth quarter worth $3,037,000. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.8 %

Shares of BRO opened at $108.64 on Monday. The firm has a market capitalization of $31.07 billion, a P/E ratio of 31.40, a P/E/G ratio of 2.84 and a beta of 0.86. Brown & Brown, Inc. has a 12-month low of $78.70 and a 12-month high of $114.15. The firm has a fifty day moving average price of $104.65 and a 200-day moving average price of $104.74. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56.

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%. Equities research analysts expect that Brown & Brown, Inc. will post 4.15 earnings per share for the current year.

Brown & Brown Announces Dividend

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 given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Wall Street Analysts Forecast Growth

Several research firms have commented on BRO. Keefe, Bruyette & Woods lowered their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Bank of America increased their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Morgan Stanley began coverage on Brown & Brown in a research note on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective on the stock. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Finally, Truist Financial boosted their target price on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $113.17.

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.