Brown & Brown, Inc. $BRO Stake Increased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 7.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,153 shares of the financial services provider’s stock after buying an additional 11,945 shares during the quarter. Commonwealth Equity Services LLC owned 0.05% of Brown & Brown worth $16,897,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its position in Brown & Brown by 4.3% during the 2nd quarter. Parallel Advisors LLC now owns 2,508 shares of the financial services provider’s stock worth $278,000 after acquiring an additional 103 shares during the period. Tower Wealth Partners Inc. boosted its holdings in shares of Brown & Brown by 4.6% during the second quarter. Tower Wealth Partners Inc. now owns 2,464 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 108 shares during the period. Western Wealth Management LLC boosted its holdings in shares of Brown & Brown by 6.0% during the second quarter. Western Wealth Management LLC now owns 1,902 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 108 shares during the period. ICONIQ Capital LLC increased its stake in Brown & Brown by 5.4% in the 2nd quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider’s stock valued at $234,000 after buying an additional 109 shares during the period. Finally, Kingsview Wealth Management LLC increased its stake in Brown & Brown by 2.2% in the 2nd quarter. Kingsview Wealth Management LLC now owns 5,267 shares of the financial services provider’s stock valued at $584,000 after buying an additional 114 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Stock Up 0.0%

Shares of BRO stock opened at $80.63 on Friday. The company has a market capitalization of $27.53 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 1.78 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.10 and a current ratio of 2.10. The stock’s 50 day simple moving average is $79.80 and its 200 day simple moving average is $90.64. Brown & Brown, Inc. has a twelve month low of $76.17 and a twelve month high of $125.68.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.90 by $0.15. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 35.4% compared to the same quarter last year. As a group, research analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th were issued a $0.165 dividend. This is a boost from Brown & Brown’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, November 5th. This represents a $0.66 annualized dividend and a yield of 0.8%. Brown & Brown’s payout ratio is 19.76%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Mizuho set a $89.00 target price on shares of Brown & Brown and gave the company a “neutral” rating in a research note on Monday, December 15th. Citigroup cut Brown & Brown from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brown & Brown in a research report on Monday, December 29th. Wall Street Zen raised Brown & Brown from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Finally, Truist Financial lowered their price target on Brown & Brown from $120.00 to $114.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $99.80.

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.