Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Heirloom Wealth Management

Heirloom Wealth Management grew its stake in Brown & Brown, Inc. (NYSE:BRO) by 8.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,224 shares of the financial services provider’s stock after buying an additional 4,214 shares during the quarter. Brown & Brown accounts for about 1.6% of Heirloom Wealth Management’s portfolio, making the stock its 19th largest holding. Heirloom Wealth Management’s holdings in Brown & Brown were worth $5,328,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Brooklyn Investment Group purchased a new stake in shares of Brown & Brown during the 3rd quarter worth about $26,000. ST Germain D J Co. Inc. increased its stake in shares of Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Brown & Brown in the 3rd quarter worth about $29,000. Versant Capital Management Inc boosted its position in Brown & Brown by 130.7% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 234 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Brown & Brown in the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Truist Financial increased their target price on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Jefferies Financial Group boosted their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Wells Fargo & Company raised their price target on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Bank of America boosted their price objective on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $112.08.

Brown & Brown Stock Performance

NYSE BRO opened at $106.01 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The stock’s fifty day moving average is $105.75 and its two-hundred day moving average is $103.89. The firm has a market capitalization of $30.31 billion, a P/E ratio of 28.88, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85. Brown & Brown, Inc. has a fifty-two week low of $75.79 and a fifty-two week high of $114.15.

Brown & Brown (NYSE:BRO) last announced its quarterly 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. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company posted $0.71 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. On average, research analysts anticipate that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.57%. Brown & Brown’s payout ratio is 16.35%.

About Brown & Brown

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.