Davidson Kahn Capital Management LLC Acquires 7,822 Shares of Brown & Brown, Inc. $BRO

Davidson Kahn Capital Management LLC increased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 30.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,290 shares of the financial services provider’s stock after purchasing an additional 7,822 shares during the quarter. Brown & Brown makes up approximately 1.4% of Davidson Kahn Capital Management LLC’s holdings, making the stock its 24th largest holding. Davidson Kahn Capital Management LLC’s holdings in Brown & Brown were worth $2,653,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Darwin Wealth Management LLC bought a new stake in Brown & Brown during the 2nd quarter valued at approximately $30,000. Cornerstone Planning Group LLC boosted its position in Brown & Brown by 423.1% during the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 220 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in Brown & Brown during the 4th quarter valued at approximately $40,000. True Wealth Design LLC boosted its position in Brown & Brown by 4,369.2% during the 3rd quarter. True Wealth Design LLC now owns 581 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 568 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Brown & Brown by 36.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 735 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 198 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Brown & Brown Stock Performance

Shares of BRO opened at $69.03 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average price is $68.17 and its 200-day moving average price is $76.41. Brown & Brown, Inc. has a 52 week low of $63.29 and a 52 week high of $119.06. The stock has a market cap of $23.50 billion, a P/E ratio of 21.57, a P/E/G ratio of 1.85 and a beta of 0.83.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the firm posted $0.86 EPS. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. Equities research analysts anticipate that Brown & Brown, Inc. will post 4.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on BRO shares. The Goldman Sachs Group cut their price objective on Brown & Brown from $82.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. Royal Bank Of Canada started coverage on Brown & Brown in a research report on Tuesday, March 17th. They set a “sector perform” rating and a $76.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on Brown & Brown from $73.00 to $74.00 and gave the company a “market perform” rating in a research report on Tuesday, April 7th. Truist Financial cut their price objective on Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. Finally, Barclays cut their price objective on Brown & Brown from $80.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Three investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $84.27.

About Brown & Brown

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.