Curio Wealth LLC Acquires New Position in Brown & Brown, Inc. (NYSE:BRO)

Curio Wealth LLC acquired a new stake in Brown & Brown, Inc. (NYSE:BRO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,200 shares of the financial services provider’s stock, valued at approximately $122,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mogy Joel R Investment Counsel Inc. raised its position in shares of Brown & Brown by 324.3% in the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock valued at $1,967,000 after purchasing an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Brown & Brown by 4.4% in the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock worth $18,104,000 after purchasing an additional 6,805 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Brown & Brown by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock worth $138,394,000 after purchasing an additional 40,881 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Brown & Brown by 19.9% in the fourth quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock worth $31,055,000 after purchasing an additional 50,510 shares during the last quarter. Finally, Silphium Asset Management Ltd raised its stake in shares of Brown & Brown by 27.5% in the fourth quarter. Silphium Asset Management Ltd now owns 48,776 shares of the financial services provider’s stock worth $4,976,000 after purchasing an additional 10,530 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BRO has been the subject of several research analyst reports. Royal Bank of Canada raised their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley started coverage on Brown & Brown in a research note on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective for the company. Keefe, Bruyette & Woods reduced their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Finally, Barclays lifted their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $118.21 on Monday. The firm has a market cap of $33.80 billion, a PE ratio of 34.16, a PEG ratio of 2.93 and a beta of 0.85. The firm has a fifty day moving average of $109.79 and a 200 day moving average of $107.20. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $121.25.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, research analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s payout ratio is 17.34%.

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.