Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Nicholson Wealth Management Group LLC

Nicholson Wealth Management Group LLC lifted its stake in Brown & Brown, Inc. (NYSE:BRO) by 32.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,259 shares of the financial services provider’s stock after acquiring an additional 3,498 shares during the period. Nicholson Wealth Management Group LLC’s holdings in Brown & Brown were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its stake in shares of Brown & Brown by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock worth $1,316,259,000 after acquiring an additional 94,121 shares during the period. Barclays PLC lifted its stake in shares of Brown & Brown by 17.8% in the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after acquiring an additional 371,980 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Brown & Brown by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock worth $136,302,000 after purchasing an additional 17,934 shares in the last quarter. FMR LLC raised its holdings in shares of Brown & Brown by 42.4% in the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock worth $114,979,000 after purchasing an additional 330,661 shares in the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of Brown & Brown by 6.2% in the 3rd quarter. Natixis Advisors LLC now owns 779,434 shares of the financial services provider’s stock worth $80,749,000 after purchasing an additional 45,766 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Stock Down 0.6 %

BRO stock opened at $111.69 on Friday. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $114.15. The company’s 50 day simple moving average is $105.13 and its 200-day simple moving average is $105.35. 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 has a market capitalization of $31.93 billion, a P/E ratio of 32.28, a P/E/G ratio of 2.95 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (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%. As a group, equities research analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

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

Wall Street Analyst Weigh In

BRO has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada boosted their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley initiated coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price on the stock. Bank of America boosted their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Truist Financial boosted their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. 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 MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $113.17.

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.