Outlook Wealth Advisors LLC Decreases Position in Brown & Brown, Inc. (NYSE:BRO)

Outlook Wealth Advisors LLC lowered its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,879 shares of the financial services provider’s stock after selling 113 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Brown & Brown were worth $396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Peak Financial Advisors LLC purchased a new stake in Brown & Brown during the 4th quarter worth about $3,037,000. Radnor Capital Management LLC lifted its stake in Brown & Brown by 9.6% in the fourth quarter. Radnor Capital Management LLC now owns 5,690 shares of the financial services provider’s stock worth $580,000 after acquiring an additional 500 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Brown & Brown by 46.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 29,746 shares of the financial services provider’s stock worth $3,035,000 after acquiring an additional 9,467 shares during the last quarter. Park Avenue Securities LLC grew its holdings in Brown & Brown by 2.9% during the 4th quarter. Park Avenue Securities LLC now owns 8,922 shares of the financial services provider’s stock worth $910,000 after acquiring an additional 252 shares in the last quarter. Finally, Kathmere Capital Management LLC increased its position in shares of Brown & Brown by 9.4% in the 4th quarter. Kathmere Capital Management LLC now owns 2,662 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 228 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BRO has been the topic of several recent analyst reports. Bank of America increased their target price on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Jefferies Financial Group raised their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Barclays upped their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Morgan Stanley began coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target for the company. Finally, Keefe, Bruyette & Woods dropped their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and an average price target of $112.08.

Brown & Brown Stock Performance

BRO opened at $103.70 on Thursday. Brown & Brown, Inc. has a 1-year low of $73.23 and a 1-year high of $114.15. The stock has a market cap of $29.65 billion, a P/E ratio of 28.26, a P/E/G ratio of 2.14 and a beta of 0.85. The stock’s 50 day simple moving average is $106.54 and its 200 day simple moving average is $103.04. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. Brown & Brown’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 earnings per share. As a group, equities analysts anticipate that Brown & Brown, Inc. will post 3.74 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were given a dividend of $0.15 per share. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Wednesday, November 6th. Brown & Brown’s payout ratio is currently 16.35%.

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.