Elser Financial Planning Inc Sells 2,994 Shares of Brown & Brown, Inc. (NYSE:BRO)

Elser Financial Planning Inc lessened its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 7.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,835 shares of the financial services provider’s stock after selling 2,994 shares during the period. Brown & Brown makes up 0.2% of Elser Financial Planning Inc’s portfolio, making the stock its 21st biggest position. Elser Financial Planning Inc’s holdings in Brown & Brown were worth $3,656,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BRO. Zurich Insurance Group Ltd FI lifted its holdings in shares of Brown & Brown by 258.0% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock valued at $66,985,000 after purchasing an additional 465,988 shares in the last quarter. Barclays PLC lifted its holdings in shares of Brown & Brown by 17.8% during the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after purchasing an additional 371,980 shares in the last quarter. FMR LLC lifted its holdings in shares of Brown & Brown by 42.4% during the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after purchasing an additional 330,661 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Brown & Brown by 129.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 547,003 shares of the financial services provider’s stock valued at $56,670,000 after acquiring an additional 308,458 shares in the last quarter. Finally, EULAV Asset Management lifted its stake in Brown & Brown by 144.8% in the 4th quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock valued at $43,960,000 after acquiring an additional 254,900 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.8 %

NYSE:BRO opened at $108.64 on Monday. The company has a quick ratio of 1.73, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $31.07 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 2.84 and a beta of 0.86. Brown & Brown, Inc. has a twelve month low of $78.70 and a twelve month high of $114.15. The stock’s 50 day moving average price is $104.65 and its two-hundred day moving average price is $104.74.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Equities research analysts expect that Brown & Brown, Inc. will post 4.15 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Wednesday, February 5th. Brown & Brown’s payout ratio is presently 17.34%.

Wall Street Analysts Forecast Growth

Several research firms have commented on BRO. Royal Bank of Canada boosted their target price on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their target price on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods cut their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Truist Financial boosted their target price on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley began coverage on Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price on the stock. One 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.