Atria Wealth Solutions Inc. Invests $250,000 in Brown & Brown, Inc. (NYSE:BRO)

Atria Wealth Solutions Inc. purchased a new position in Brown & Brown, Inc. (NYSE:BRO) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,520 shares of the financial services provider’s stock, valued at approximately $250,000.

Other large investors also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in shares of Brown & Brown in the 4th quarter worth about $31,000. Park Place Capital Corp lifted its position in Brown & Brown by 166.5% in the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 318 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in 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 purchasing an additional 348 shares during the last quarter. Mendota Financial Group LLC bought a new stake in Brown & Brown in the 4th quarter valued at about $42,000. Finally, Orion Capital Management LLC bought a new stake in Brown & Brown in the 3rd quarter valued at about $56,000. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Wednesday. UBS Group lifted their price objective on shares of Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Citigroup lifted their price objective on shares of Brown & Brown from $89.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods lifted their price objective on shares of Brown & Brown from $80.00 to $82.00 and gave the company an “underperform” rating in a research report on Friday, May 3rd. Finally, Bank of America cut shares of Brown & Brown from a “neutral” rating to an “underperform” rating and raised their target price for the company from $80.00 to $86.00 in a research note on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $87.30.

Brown & Brown Stock Up 0.9 %

Brown & Brown stock opened at $85.61 on Friday. The company’s 50-day moving average price is $84.23 and its two-hundred day moving average price is $78.01. The stock has a market cap of $24.42 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 2.28 and a beta of 0.79. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 52 week low of $61.71 and a 52 week high of $87.99.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data 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. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations 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 was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS. On average, analysts expect that Brown & Brown, Inc. will post 3.62 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.52 annualized dividend and a dividend yield of 0.61%. Brown & Brown’s dividend payout ratio is currently 16.00%.

Insider Transactions 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 transaction, the chairman now owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.43% of the company’s stock.

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.