First Trust Direct Indexing L.P. Has $274,000 Position in Brown & Brown, Inc. (NYSE:BRO)

First Trust Direct Indexing L.P. boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 9.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,849 shares of the financial services provider’s stock after buying an additional 325 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Brown & Brown were worth $274,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BRO. Fortitude Family Office LLC bought a new position in Brown & Brown during the fourth quarter worth about $31,000. Park Place Capital Corp boosted its position in shares of Brown & Brown by 166.5% during the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 318 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Brown & Brown by 174.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock valued at $39,000 after buying an additional 348 shares during the period. Mendota Financial Group LLC bought a new stake in shares of Brown & Brown in the 4th quarter valued at $42,000. Finally, Orion Capital Management LLC acquired a new stake in Brown & Brown during the 3rd quarter worth $56,000. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 1.2 %

Shares of Brown & Brown stock opened at $85.26 on Wednesday. The stock has a market cap of $24.32 billion, a P/E ratio of 26.23, a P/E/G ratio of 2.28 and a beta of 0.79. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 12-month low of $61.71 and a 12-month high of $87.99. The business’s 50 day moving average is $84.20 and its 200-day moving average is $77.91.

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

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors 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 0.61%. The ex-dividend date of this dividend is Friday, May 3rd. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Insider Activity at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 144,323 shares of Brown & Brown 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 sale, 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 SEC, which can be accessed through this link. 16.43% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on BRO. Wells Fargo & Company boosted their target price on Brown & Brown from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. UBS Group lifted their price target on shares of Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Raymond James increased their price objective on shares of Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Royal Bank of Canada boosted their price objective on shares of Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Finally, Truist Financial increased their target price on Brown & Brown from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $87.30.

Brown & Brown 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.