D.A. Davidson & CO. Grows Holdings in Brown & Brown, Inc. (NYSE:BRO)

D.A. Davidson & CO. grew its stake in Brown & Brown, Inc. (NYSE:BRO) by 1.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 29,841 shares of the financial services provider’s stock after acquiring an additional 361 shares during the period. D.A. Davidson & CO.’s holdings in Brown & Brown were worth $3,044,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Studio Investment Management LLC raised its stake in shares of Brown & Brown by 1.5% in the 3rd quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock valued at $675,000 after acquiring an additional 96 shares during the period. Journey Strategic Wealth LLC increased its stake in Brown & Brown by 2.3% during the 4th quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock worth $458,000 after buying an additional 99 shares during the period. CWA Asset Management Group LLC increased its stake in Brown & Brown by 3.7% during the 4th quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock worth $297,000 after buying an additional 103 shares during the period. Bleakley Financial Group LLC increased its stake in Brown & Brown by 3.4% during the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock worth $323,000 after buying an additional 103 shares during the period. Finally, Creative Planning increased its stake in Brown & Brown by 0.4% during the 3rd quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock worth $3,097,000 after buying an additional 112 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Bank of America upped their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Barclays boosted their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Morgan Stanley assumed coverage on shares of Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target for the company. Finally, Truist Financial boosted their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and an average target price of $113.17.

Brown & Brown Trading Down 0.6 %

Shares of Brown & Brown stock opened at $111.69 on Friday. The company has a fifty day simple moving average of $105.13 and a 200-day simple moving average of $105.35. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $114.15. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a market cap of $31.93 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 2.91 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last issued its quarterly 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 analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 17.34%.

About Brown & Brown

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.