Cwm LLC Raises Stock Position in Brown & Brown, Inc. $BRO

Cwm LLC grew its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 895.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,545 shares of the financial services provider’s stock after acquiring an additional 56,265 shares during the period. Cwm LLC’s holdings in Brown & Brown were worth $5,866,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bares Capital Management Inc. bought a new stake in Brown & Brown during the 1st quarter valued at $26,000. ST Germain D J Co. Inc. increased its stake in shares of Brown & Brown by 298.5% during the second quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $30,000 after buying an additional 200 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of Brown & Brown in the second quarter valued at about $30,000. Motco purchased a new stake in Brown & Brown in the second quarter worth about $32,000. Finally, Bruce G. Allen Investments LLC lifted its stake in Brown & Brown by 1,129.6% in the second quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 305 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on BRO. Citigroup downgraded shares of Brown & Brown from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Brown & Brown in a report on Monday. Truist Financial lowered their target price on Brown & Brown from $120.00 to $114.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Barclays dropped their target price on Brown & Brown from $102.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 20th. Finally, JPMorgan Chase & Co. began coverage on Brown & Brown in a research report on Thursday, December 18th. They issued a “neutral” rating and a $91.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Brown & Brown has an average rating of “Hold” and an average target price of $99.80.

Brown & Brown Price Performance

NYSE BRO opened at $80.20 on Wednesday. The firm’s fifty day simple moving average is $80.60 and its two-hundred day simple moving average is $92.01. The firm has a market capitalization of $27.38 billion, a P/E ratio of 24.01, a P/E/G ratio of 1.89 and a beta of 0.82. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.62. Brown & Brown, Inc. has a 12-month low of $76.17 and a 12-month high of $125.68.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 27th. The financial services provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the firm earned $0.91 EPS. The business’s quarterly revenue was up 35.4% on a year-over-year basis. Analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th were paid a dividend of $0.165 per share. The ex-dividend date was Wednesday, November 5th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.8%. Brown & Brown’s payout ratio is presently 19.76%.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.