Savant Capital LLC Grows Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Savant Capital LLC boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,687 shares of the financial services provider’s stock after buying an additional 727 shares during the quarter. Savant Capital LLC’s holdings in Brown & Brown were worth $1,115,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in Brown & Brown by 0.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,236,392 shares of the financial services provider’s stock worth $372,360,000 after purchasing an additional 29,514 shares during the last quarter. Northern Trust Corp grew its position in Brown & Brown by 6.1% in the 3rd quarter. Northern Trust Corp now owns 2,285,511 shares of the financial services provider’s stock valued at $159,620,000 after acquiring an additional 130,647 shares during the last quarter. Royal Bank of Canada increased its stake in Brown & Brown by 15.9% in the third quarter. Royal Bank of Canada now owns 1,715,645 shares of the financial services provider’s stock worth $119,821,000 after purchasing an additional 235,001 shares during the period. California Public Employees Retirement System boosted its stake in shares of Brown & Brown by 0.9% during the third quarter. California Public Employees Retirement System now owns 1,516,285 shares of the financial services provider’s stock valued at $105,897,000 after purchasing an additional 13,477 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Brown & Brown by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,221,896 shares of the financial services provider’s stock worth $85,337,000 after purchasing an additional 16,109 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.8 %

Shares of Brown & Brown stock opened at $83.52 on Friday. The stock has a 50 day moving average of $84.18 and a 200 day moving average of $77.54. Brown & Brown, Inc. has a fifty-two week low of $61.71 and a fifty-two week high of $87.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a market capitalization of $23.82 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 2.26 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.07 by $0.07. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 earnings per share. As a group, research analysts predict that Brown & Brown, Inc. will post 3.62 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Friday, May 3rd. Brown & Brown’s dividend payout ratio is presently 16.00%.

Analyst Upgrades and Downgrades

BRO has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Sunday, March 17th. Raymond James lifted their price target on shares of Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Truist Financial boosted their target price on Brown & Brown from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Bank of America cut Brown & Brown from a “neutral” rating to an “underperform” rating and increased their price target for the company from $80.00 to $86.00 in a research note on Wednesday, March 13th. Finally, UBS Group boosted their price target on Brown & Brown from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $87.30.

Insiders Place Their Bets

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the sale, the chairman now owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.02% of the stock is owned by corporate insiders.

Brown & Brown Company Profile

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.