Wedmont Private Capital Has $252,000 Position in Brown & Brown, Inc. (NYSE:BRO)

Wedmont Private Capital grew its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 6.8% during the 4th quarter, HoldingsChannel reports. The fund owned 2,475 shares of the financial services provider’s stock after acquiring an additional 157 shares during the period. Wedmont Private Capital’s holdings in Brown & Brown were worth $252,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Studio Investment Management LLC increased its position in Brown & Brown by 1.5% in the 3rd quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock worth $675,000 after purchasing an additional 96 shares during the last quarter. Trust Point Inc. grew its stake in shares of Brown & Brown by 4.3% in the 3rd quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock valued at $261,000 after buying an additional 103 shares in the last quarter. CWA Asset Management Group LLC raised its position in Brown & Brown by 3.7% during the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 103 shares in the last quarter. Creative Planning raised its position in Brown & Brown by 0.4% during the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after acquiring an additional 112 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in Brown & Brown by 0.5% in the third quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider’s stock valued at $2,375,000 after acquiring an additional 113 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Price Performance

NYSE:BRO opened at $105.92 on Friday. 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, Inc. has a one year low of $73.23 and a one year high of $114.15. The company has a fifty day moving average price of $106.45 and a 200 day moving average price of $103.06. The stock has a market cap of $30.29 billion, a P/E ratio of 28.86, a PEG ratio of 2.14 and a beta of 0.85.

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

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio (DPR) is presently 16.35%.

Analyst Upgrades and Downgrades

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

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.