Farther Finance Advisors LLC Buys 243 Shares of Brown & Brown, Inc. (NYSE:BRO)

Farther Finance Advisors LLC grew its position in Brown & Brown, Inc. (NYSE:BRO) by 8.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,118 shares of the financial services provider’s stock after purchasing an additional 243 shares during the quarter. Farther Finance Advisors LLC’s holdings in Brown & Brown were worth $387,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Capital Investment Advisors LLC purchased a new position in shares of Brown & Brown in the first quarter worth about $1,929,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Brown & Brown by 395.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider’s stock valued at $3,489,000 after purchasing an additional 27,297 shares in the last quarter. National Bank of Canada FI lifted its holdings in Brown & Brown by 56.8% during the fourth quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider’s stock valued at $19,365,000 after purchasing an additional 68,745 shares in the last quarter. FORA Capital LLC purchased a new position in Brown & Brown in the 4th quarter valued at about $580,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Brown & Brown by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock worth $138,394,000 after acquiring an additional 40,881 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Trading Up 0.4%

Shares of NYSE BRO opened at $107.06 on Tuesday. The business has a fifty day simple moving average of $112.27 and a 200-day simple moving average of $111.00. Brown & Brown, Inc. has a 12 month low of $88.31 and a 12 month high of $125.68. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The company has a market cap of $30.69 billion, a price-to-earnings ratio of 30.94, a P/E/G ratio of 2.93 and a beta of 0.84.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the firm posted $1.14 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown’s dividend payout ratio is 16.71%.

Wall Street Analysts Forecast Growth

BRO has been the subject of several research reports. Edward Jones assumed coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They set a “buy” rating for the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $122.00 price objective (up from $116.00) on shares of Brown & Brown in a research note on Thursday, June 12th. Truist Financial cut their target price on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Morgan Stanley reiterated an “equal weight” rating and issued a $128.00 price objective on shares of Brown & Brown in a research note on Tuesday, March 25th. Finally, Keefe, Bruyette & Woods increased their target price on Brown & Brown from $100.00 to $102.00 and gave the company an “underperform” rating in a report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $118.85.

Brown & Brown 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.