Callahan Advisors LLC Invests $251,000 in Brown & Brown, Inc. (NYSE:BRO)

Callahan Advisors LLC acquired a new position in Brown & Brown, Inc. (NYSE:BRO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,458 shares of the financial services provider’s stock, valued at approximately $251,000.

Several other large investors also recently made changes to their positions in the business. Brooklyn Investment Group bought a new stake in Brown & Brown during the 3rd quarter worth about $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Brown & Brown in the third quarter valued at approximately $29,000. Y.D. More Investments Ltd raised its position in Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 162 shares during the last quarter. R Squared Ltd acquired a new position in Brown & Brown during the 4th quarter worth $31,000. Finally, Versant Capital Management Inc boosted its position in Brown & Brown by 130.7% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after buying an additional 234 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of BRO opened at $111.43 on Wednesday. The stock has a 50 day simple moving average of $104.64 and a 200 day simple moving average of $105.19. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $114.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a market capitalization of $31.86 billion, a PE ratio of 32.21, a P/E/G ratio of 2.90 and a beta of 0.86.

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, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Sell-side analysts predict that Brown & Brown, Inc. will post 4.17 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. Investors of record on Wednesday, February 5th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is currently 17.34%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BRO. Wells Fargo & Company upped their price target on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial upped their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Bank of America boosted their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Barclays raised their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Finally, Morgan Stanley started coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 target price for the company. One equities 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $113.17.

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.