Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC lifted its position in shares of Brown & Brown, Inc. (NYSE:BROFree Report) by 41.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,422 shares of the financial services provider’s stock after acquiring an additional 2,451 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Brown & Brown were worth $599,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clear Street Markets LLC raised its stake in shares of Brown & Brown by 93.7% during the 1st quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock worth $26,000 after buying an additional 223 shares during the last quarter. First Capital Advisors Group LLC. acquired a new position in shares of Brown & Brown during the 2nd quarter worth $26,000. West Tower Group LLC acquired a new position in shares of Brown & Brown during the 2nd quarter worth $27,000. GPS Wealth Strategies Group LLC raised its stake in shares of Brown & Brown by 150.6% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider’s stock worth $41,000 after buying an additional 354 shares during the last quarter. Finally, Huntington National Bank raised its stake in shares of Brown & Brown by 50.6% during the 2nd quarter. Huntington National Bank now owns 652 shares of the financial services provider’s stock worth $45,000 after buying an additional 219 shares during the last quarter. Institutional investors and hedge funds own 70.33% of the company’s stock.

Insider Buying and Selling

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 17.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BRO shares. Royal Bank of Canada lifted their price objective on Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group upgraded Brown & Brown from a “neutral” rating to a “buy” rating and lowered their price target for the company from $84.00 to $83.00 in a report on Monday, January 8th. Wells Fargo & Company lifted their price target on Brown & Brown from $72.00 to $81.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Keefe, Bruyette & Woods lifted their price target on Brown & Brown from $70.00 to $75.00 and gave the company an “underperform” rating in a report on Friday, January 26th. Finally, Jefferies Financial Group cut Brown & Brown from a “buy” rating to a “hold” rating and lowered their price target for the company from $85.00 to $78.00 in a report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Brown & Brown has an average rating of “Hold” and an average target price of $84.40.

Check Out Our Latest Research Report on BRO

Brown & Brown Stock Performance

NYSE BRO opened at $86.69 on Thursday. The firm has a market capitalization of $24.78 billion, a P/E ratio of 28.33, a P/E/G ratio of 2.86 and a beta of 0.78. Brown & Brown, Inc. has a 1-year low of $54.24 and a 1-year high of $87.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.95 and a quick ratio of 1.95. The business’s 50-day simple moving average is $80.89 and its 200-day simple moving average is $74.92.

Brown & Brown (NYSE:BROGet Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. The firm had revenue of $1.03 billion for the quarter. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. During the same period last year, the firm posted $0.50 earnings per share. Equities analysts predict that Brown & Brown, Inc. will post 3.29 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Friday, February 2nd were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.60%. The ex-dividend date was Thursday, February 1st. Brown & Brown’s dividend payout ratio (DPR) is presently 16.99%.

About Brown & Brown

(Free Report)

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.

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Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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