Choreo LLC Acquires 757 Shares of Brown & Brown, Inc. (NYSE:BRO)

Choreo LLC increased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,339 shares of the financial services provider’s stock after buying an additional 757 shares during the quarter. Choreo LLC’s holdings in Brown & Brown were worth $3,197,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BRO. Mirae Asset Global Investments Co. Ltd. increased its position in Brown & Brown by 35.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,631 shares of the financial services provider’s stock worth $3,048,000 after buying an additional 7,835 shares in the last quarter. Y.D. More Investments Ltd grew its stake in shares of Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 162 shares during the period. Jackson Wealth Management LLC increased its holdings in Brown & Brown by 3.5% in the 4th quarter. Jackson Wealth Management LLC now owns 31,235 shares of the financial services provider’s stock worth $3,187,000 after acquiring an additional 1,059 shares in the last quarter. E. Ohman J or Asset Management AB raised its stake in Brown & Brown by 17.9% during the 4th quarter. E. Ohman J or Asset Management AB now owns 11,670 shares of the financial services provider’s stock worth $1,191,000 after acquiring an additional 1,770 shares during the period. Finally, Longboard Asset Management LP purchased a new position in Brown & Brown during the fourth quarter valued at approximately $248,000. 71.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Truist Financial raised their price objective 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. Keefe, Bruyette & Woods decreased their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company upped their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley initiated coverage on Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 target price for the company. Finally, Barclays boosted their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Stock Performance

NYSE:BRO opened at $107.71 on Friday. The company has a market cap of $30.80 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 2.75 and a beta of 0.86. Brown & Brown, Inc. has a 1 year low of $78.40 and a 1 year high of $114.15. The stock’s 50 day simple moving average is $104.85 and its two-hundred day simple moving average is $104.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.73.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, equities analysts anticipate that Brown & Brown, Inc. will post 4.15 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders 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 dividend yield of 0.56%. The ex-dividend date is Wednesday, February 5th. Brown & Brown’s dividend payout ratio is 17.34%.

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.