12,761 Shares in Brown & Brown, Inc. (NYSE:BRO) Bought by Cathy Pareto & Associates Inc.

Cathy Pareto & Associates Inc. bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 12,761 shares of the financial services provider’s stock, valued at approximately $1,302,000. Brown & Brown makes up approximately 1.2% of Cathy Pareto & Associates Inc.’s investment portfolio, making the stock its 23rd largest position.

Other hedge funds also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in Brown & Brown in the third quarter valued at approximately $26,000. ST Germain D J Co. Inc. lifted its holdings in Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after buying an additional 200 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Brown & Brown during the third quarter valued at about $29,000. Versant Capital Management Inc raised its holdings in shares of Brown & Brown by 130.7% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 234 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Brown & Brown in the 3rd quarter worth about $58,000. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Truist Financial increased their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their target price on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley assumed coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target on the stock. Bank of America raised their target price on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $112.08.

Brown & Brown Stock Performance

Brown & Brown stock opened at $106.01 on Monday. The stock’s 50 day moving average price is $105.75 and its 200 day moving average price is $103.89. The firm has a market capitalization of $30.31 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. Brown & Brown, Inc. has a one year low of $75.79 and a one year high of $114.15.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS. As a group, sell-side analysts expect that Brown & Brown, Inc. will post 3.74 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, February 5th. Brown & Brown’s payout ratio is 16.35%.

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.