Klingman & Associates LLC Reduces Position in Brown & Brown, Inc. (NYSE:BRO)

Klingman & Associates LLC decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 24.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,412 shares of the financial services provider’s stock after selling 1,393 shares during the quarter. Klingman & Associates LLC’s holdings in Brown & Brown were worth $450,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BRO. Studio Investment Management LLC lifted its position in Brown & Brown by 1.5% in the third quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock valued at $675,000 after buying an additional 96 shares during the last quarter. Journey Strategic Wealth LLC lifted its position in Brown & Brown by 2.3% in the fourth quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock valued at $458,000 after buying an additional 99 shares during the last quarter. CWA Asset Management Group LLC lifted its position in Brown & Brown by 3.7% in the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock valued at $297,000 after buying an additional 103 shares during the last quarter. Bleakley Financial Group LLC lifted its position in Brown & Brown by 3.4% in the fourth quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock valued at $323,000 after buying an additional 103 shares during the last quarter. Finally, Creative Planning lifted its position in Brown & Brown by 0.4% in the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after buying an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays upped their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Truist Financial increased their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods reduced their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada increased their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Bank of America increased their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $113.17.

Brown & Brown Stock Up 0.8 %

BRO stock opened at $111.43 on Wednesday. The company’s 50 day moving average price is $104.64 and its 200 day moving average price is $105.19. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $114.15. The firm has a market capitalization of $31.86 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 2.90 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, equities research analysts anticipate that Brown & Brown, Inc. will post 4.17 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.54%. Brown & Brown’s dividend payout ratio is currently 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.