Moran Wealth Management LLC Buys 1,607 Shares of Brown & Brown, Inc. (NYSE:BRO)

Moran Wealth Management LLC raised its stake in Brown & Brown, Inc. (NYSE:BRO) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,083 shares of the financial services provider’s stock after acquiring an additional 1,607 shares during the quarter. Moran Wealth Management LLC’s holdings in Brown & Brown were worth $2,967,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BRO. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Brown & Brown by 15.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,511 shares of the financial services provider’s stock valued at $5,357,000 after buying an additional 7,133 shares during the period. Dundas Partners LLP increased its holdings in Brown & Brown by 5.0% in the 4th quarter. Dundas Partners LLP now owns 503,111 shares of the financial services provider’s stock worth $51,327,000 after purchasing an additional 23,906 shares in the last quarter. Amundi raised its holdings in Brown & Brown by 108.9% in the 4th quarter. Amundi now owns 678,532 shares of the financial services provider’s stock valued at $69,570,000 after buying an additional 353,797 shares during the last quarter. Berkshire Asset Management LLC PA bought a new position in shares of Brown & Brown during the fourth quarter valued at $222,000. Finally, Andra AP fonden raised its position in Brown & Brown by 60.6% during the 4th quarter. Andra AP fonden now owns 54,600 shares of the financial services provider’s stock worth $5,570,000 after purchasing an additional 20,600 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BRO shares. Bank of America boosted 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. Keefe, Bruyette & Woods reduced their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Barclays boosted their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Royal Bank of Canada increased their price target on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company raised their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $113.17.

Brown & Brown Price Performance

BRO opened at $117.84 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a market cap of $33.70 billion, a P/E ratio of 34.06, a PEG ratio of 2.93 and a beta of 0.85. The firm has a 50-day moving average of $108.48 and a 200 day moving average of $106.78. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $121.25.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating 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%. On average, research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.51%. Brown & Brown’s dividend payout ratio (DPR) 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.