Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC grew its stake in Brown & Brown, Inc. (NYSE:BRO) by 6.7% during the 4th quarter, Holdings Channel reports. The firm owned 255,653 shares of the financial services provider’s stock after purchasing an additional 15,976 shares during the quarter. Corient Private Wealth LLC’s holdings in Brown & Brown were worth $18,180,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Legacy Capital Wealth Partners LLC lifted its stake in shares of Brown & Brown by 2.6% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 6,316 shares of the financial services provider’s stock worth $449,000 after buying an additional 158 shares in the last quarter. Tributary Capital Management LLC raised its stake in Brown & Brown by 1.1% during the fourth quarter. Tributary Capital Management LLC now owns 16,677 shares of the financial services provider’s stock worth $1,186,000 after purchasing an additional 174 shares during the period. First Horizon Advisors Inc. raised its stake in Brown & Brown by 22.8% during the fourth quarter. First Horizon Advisors Inc. now owns 1,008 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 187 shares during the period. Summit Financial LLC raised its stake in Brown & Brown by 6.0% during the third quarter. Summit Financial LLC now owns 3,395 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 191 shares during the period. Finally, Xcel Wealth Management LLC raised its stake in Brown & Brown by 3.2% during the fourth quarter. Xcel Wealth Management LLC now owns 6,389 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

BRO has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. Citigroup boosted their price target on shares of Brown & Brown from $89.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Truist Financial boosted their price target on shares of Brown & Brown from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. UBS Group boosted their price target on shares of Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Finally, Bank of America raised shares of Brown & Brown from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $91.00 to $101.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $88.80.

Insiders Place Their Bets

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the transaction, the chairman now directly 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 SEC, which is available at this hyperlink. 17.02% of the stock is owned by corporate insiders.

Brown & Brown Stock Up 0.3 %

Shares of NYSE:BRO traded up $0.25 during trading on Friday, hitting $89.36. 791,764 shares of the company were exchanged, compared to its average volume of 1,226,229. The stock has a market capitalization of $25.49 billion, a P/E ratio of 27.49, a PEG ratio of 2.34 and a beta of 0.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.97. Brown & Brown, Inc. has a 12-month low of $61.71 and a 12-month high of $91.70. The firm’s 50 day moving average price is $85.16 and its 200-day moving average price is $79.53.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.07 by $0.07. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. Brown & Brown’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. On average, research analysts predict that Brown & Brown, Inc. will post 3.61 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.52 annualized dividend and a dividend yield of 0.58%. Brown & Brown’s dividend payout ratio is currently 16.00%.

Brown & Brown 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.