Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 79.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 490 shares of the financial services provider’s stock after purchasing an additional 217 shares during the period. EverSource Wealth Advisors LLC’s holdings in Brown & Brown were worth $50,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its stake in shares of Brown & Brown by 29.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 8,886 shares of the financial services provider’s stock valued at $907,000 after acquiring an additional 2,000 shares during the period. HighTower Advisors LLC boosted its holdings in Brown & Brown by 4.5% during the fourth quarter. HighTower Advisors LLC now owns 86,299 shares of the financial services provider’s stock worth $8,804,000 after buying an additional 3,754 shares in the last quarter. Tower Wealth Partners Inc. bought a new stake in Brown & Brown during the fourth quarter worth approximately $201,000. Daiwa Securities Group Inc. boosted its holdings in Brown & Brown by 7.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 31,719 shares of the financial services provider’s stock worth $3,236,000 after buying an additional 2,325 shares in the last quarter. Finally, Moran Wealth Management LLC boosted its holdings in Brown & Brown by 5.8% during the fourth quarter. Moran Wealth Management LLC now owns 29,083 shares of the financial services provider’s stock worth $2,967,000 after buying an additional 1,607 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BRO shares. Royal Bank of Canada raised their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Wells Fargo & Company raised their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Barclays raised their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Bank of America raised their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $113.17.

Brown & Brown Trading Up 0.6 %

Shares of NYSE:BRO opened at $119.93 on Thursday. The firm has a fifty day moving average of $110.53 and a two-hundred day moving average of $107.41. The firm has a market capitalization of $34.29 billion, a P/E ratio of 34.66, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $121.25. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, equities analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is currently 17.34%.

Brown & Brown Company 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.