Atria Wealth Solutions Inc. Acquires New Holdings in Brown & Brown, Inc. (NYSE:BRO)

Atria Wealth Solutions Inc. acquired a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,520 shares of the financial services provider’s stock, valued at approximately $250,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new stake in Brown & Brown during the fourth quarter valued at about $184,000. Wedge Capital Management L L P NC raised its stake in Brown & Brown by 26.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 89,992 shares of the financial services provider’s stock valued at $6,399,000 after buying an additional 19,021 shares during the last quarter. Brendel Financial Advisors LLC purchased a new stake in Brown & Brown in the fourth quarter valued at about $3,311,000. CWM LLC raised its stake in Brown & Brown by 11.6% in the fourth quarter. CWM LLC now owns 5,428 shares of the financial services provider’s stock valued at $386,000 after buying an additional 564 shares during the last quarter. Finally, Carmel Capital Partners LLC raised its stake in Brown & Brown by 65.4% in the fourth quarter. Carmel Capital Partners LLC now owns 3,162 shares of the financial services provider’s stock valued at $225,000 after buying an additional 1,250 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.9 %

Shares of BRO stock opened at $85.61 on Friday. The stock has a 50 day moving average of $84.23 and a 200 day moving average of $78.01. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.52. The stock has a market cap of $24.42 billion, a P/E ratio of 26.34, a P/E/G ratio of 2.28 and a beta of 0.79. Brown & Brown, Inc. has a twelve month low of $61.71 and a twelve month high of $87.99.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.07. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. Brown & Brown’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the business earned $0.84 earnings per share. As a group, sell-side analysts expect that Brown & Brown, Inc. will post 3.62 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Friday, May 3rd. Brown & Brown’s payout ratio is currently 16.00%.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 16.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BRO has been the subject of a number of research analyst reports. UBS Group increased 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 increased 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. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial raised their price objective on Brown & Brown from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Bank of America cut Brown & Brown from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $80.00 to $86.00 in a research note on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus price target of $87.30.

About Brown & Brown

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.