Portside Wealth Group LLC Buys Shares of 5,242 Brown & Brown, Inc. (NYSE:BRO)

Portside Wealth Group LLC bought a new stake in Brown & Brown, Inc. (NYSE:BROFree Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,242 shares of the financial services provider’s stock, valued at approximately $373,000.

Several other large investors also recently made changes to their positions in the stock. HB Wealth Management LLC increased its position in shares of Brown & Brown by 17.7% during the fourth quarter. HB Wealth Management LLC now owns 3,526 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 529 shares in the last quarter. Patton Fund Management Inc. bought a new stake in shares of Brown & Brown during the fourth quarter worth $4,765,000. SG Americas Securities LLC increased its position in shares of Brown & Brown by 86.9% during the fourth quarter. SG Americas Securities LLC now owns 24,866 shares of the financial services provider’s stock worth $1,768,000 after acquiring an additional 11,559 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Brown & Brown during the fourth quarter worth $31,000. Finally, Insight Wealth Strategies LLC bought a new stake in shares of Brown & Brown during the fourth quarter worth $1,954,000. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Down 0.1 %

Brown & Brown stock opened at $85.91 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $24.55 billion, a price-to-earnings ratio of 28.08, a price-to-earnings-growth ratio of 2.87 and a beta of 0.78. Brown & Brown, Inc. has a 1-year low of $55.42 and a 1-year high of $87.00. The firm’s fifty day moving average price is $81.61 and its two-hundred day moving average price is $75.20.

Brown & Brown (NYSE:BROGet Free Report) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The firm had revenue of $1.03 billion during the quarter. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. During the same quarter in the prior year, the business earned $0.50 EPS. On average, equities research analysts predict that Brown & Brown, Inc. will post 3.29 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were given a $0.13 dividend. The ex-dividend date was Thursday, February 1st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.61%. Brown & Brown’s dividend payout ratio (DPR) is currently 16.99%.

Insider Activity

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the transaction, the chairman now directly owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.58% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on BRO shares. Royal Bank of Canada increased their price target on shares of Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Truist Financial raised their target price on shares of Brown & Brown from $85.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Keefe, Bruyette & Woods raised their target price on shares of Brown & Brown from $70.00 to $75.00 and gave the company an “underperform” rating in a report on Friday, January 26th. Wells Fargo & Company lifted their price target on shares of Brown & Brown from $72.00 to $81.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Finally, The Goldman Sachs Group raised shares of Brown & Brown from a “neutral” rating to a “buy” rating and decreased their price target for the company from $84.00 to $83.00 in a report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and an average target price of $84.40.

Get Our Latest Analysis on BRO

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.

See Also

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

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