IFP Advisors Inc Cuts Stock Position in Brown & Brown, Inc. (NYSE:BRO)

IFP Advisors Inc lessened its holdings in Brown & Brown, Inc. (NYSE:BRO) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,640 shares of the financial services provider’s stock after selling 1,221 shares during the period. IFP Advisors Inc’s holdings in Brown & Brown were worth $2,212,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Brown & Brown by 20.6% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 88,443 shares of the financial services provider’s stock valued at $9,023,000 after acquiring an additional 15,100 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Brown & Brown by 36.0% in the 4th quarter. Allianz Asset Management GmbH now owns 423,017 shares of the financial services provider’s stock valued at $43,156,000 after acquiring an additional 111,883 shares during the period. Suncoast Equity Management raised its stake in shares of Brown & Brown by 11.5% in the 4th quarter. Suncoast Equity Management now owns 16,010 shares of the financial services provider’s stock valued at $1,633,000 after acquiring an additional 1,655 shares during the period. Nicholson Wealth Management Group LLC increased its stake in Brown & Brown by 32.5% during the 4th quarter. Nicholson Wealth Management Group LLC now owns 14,259 shares of the financial services provider’s stock worth $1,455,000 after buying an additional 3,498 shares during the period. Finally, Tandem Investment Advisors Inc. increased its stake in Brown & Brown by 10.1% during the 4th quarter. Tandem Investment Advisors Inc. now owns 746,032 shares of the financial services provider’s stock worth $76,110,000 after buying an additional 68,577 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 1.9 %

NYSE BRO opened at $114.79 on Wednesday. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $114.90. The company has a 50-day simple moving average of $105.68 and a 200-day simple moving average of $105.73. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a market capitalization of $32.82 billion, a PE ratio of 33.18, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS 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%. On average, equities analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Wall Street Analysts Forecast Growth

BRO has been the topic of several analyst reports. Royal Bank of Canada lifted their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods dropped their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Truist Financial lifted their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays lifted their price target 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and a consensus price target of $113.17.

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.