Avior Wealth Management LLC Decreases Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Avior Wealth Management LLC cut its stake in Brown & Brown, Inc. (NYSE:BRO) by 33.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 468 shares of the financial services provider’s stock after selling 238 shares during the period. Avior Wealth Management LLC’s holdings in Brown & Brown were worth $33,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clear Street Markets LLC boosted its holdings in Brown & Brown by 93.7% in the first quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 223 shares during the period. First Capital Advisors Group LLC. acquired a new stake in Brown & Brown in the second quarter valued at $26,000. Fortitude Family Office LLC acquired a new stake in Brown & Brown in the fourth quarter valued at $31,000. Park Place Capital Corp raised its stake in Brown & Brown by 166.5% in the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after buying an additional 318 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC raised its stake in Brown & Brown by 150.6% in the third quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider’s stock valued at $41,000 after buying an additional 354 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the transaction, the chairman now owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.43% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BRO shares. UBS Group raised their price target on Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Royal Bank of Canada raised their price target on Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Citigroup raised their price target on Brown & Brown from $89.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Wells Fargo & Company lifted their target price on Brown & Brown from $81.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Finally, StockNews.com upgraded Brown & Brown from a “hold” rating to a “buy” rating in a research report on Sunday, March 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $86.80.

Brown & Brown Stock Performance

Shares of BRO stock opened at $82.17 on Monday. The stock has a market capitalization of $23.45 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78. Brown & Brown, Inc. has a 52-week low of $59.91 and a 52-week high of $87.99. The stock’s 50-day moving average price is $84.23 and its 200 day moving average price is $76.82. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.58.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. The firm had revenue of $1.03 billion for the quarter. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. During the same quarter last year, the firm earned $0.50 EPS. As a group, equities research analysts forecast that Brown & Brown, Inc. will post 3.55 EPS for the current year.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.