Equitable Trust Co. Raises Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Equitable Trust Co. boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,695 shares of the financial services provider’s stock after acquiring an additional 190 shares during the period. Equitable Trust Co.’s holdings in Brown & Brown were worth $1,193,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Angeles Wealth Management LLC purchased a new position in Brown & Brown in the 4th quarter worth approximately $213,000. Kestra Private Wealth Services LLC grew its stake in Brown & Brown by 6.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 6,483 shares of the financial services provider’s stock worth $661,000 after buying an additional 406 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Brown & Brown by 80.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 58,915 shares of the financial services provider’s stock worth $6,011,000 after buying an additional 26,325 shares in the last quarter. Howland Capital Management LLC purchased a new position in Brown & Brown in the 4th quarter worth approximately $526,000. Finally, RFP Financial Group LLC purchased a new position in Brown & Brown in the 4th quarter worth approximately $201,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.3 %

NYSE:BRO opened at $108.90 on Tuesday. The company has a fifty day moving average of $104.60 and a 200 day moving average of $104.82. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $114.15. 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 $31.14 billion, a P/E ratio of 31.47, a P/E/G ratio of 2.84 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 analysts’ consensus estimates 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, research analysts predict that Brown & Brown, Inc. will post 4.15 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.55%. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Truist Financial boosted 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. Bank of America boosted their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Morgan Stanley started coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective for the company. Keefe, Bruyette & Woods lowered their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Finally, Royal Bank of Canada boosted their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Company 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.