RFP Financial Group LLC Makes New Investment in Brown & Brown, Inc. (NYSE:BRO)

RFP Financial Group LLC acquired a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,970 shares of the financial services provider’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mogy Joel R Investment Counsel Inc. grew its position in Brown & Brown by 324.3% in the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock worth $1,967,000 after acquiring an additional 14,740 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Brown & Brown by 4.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock worth $18,104,000 after acquiring an additional 6,805 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Brown & Brown during the 3rd quarter worth approximately $9,832,000. Charles Schwab Investment Management Inc. increased its holdings in Brown & Brown by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after purchasing an additional 17,934 shares during the last quarter. Finally, Peak Financial Advisors LLC purchased a new position in shares of Brown & Brown during the fourth quarter worth $3,037,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

Shares of BRO opened at $108.64 on Friday. The stock has a 50 day moving average price of $104.65 and a 200 day moving average price of $104.65. Brown & Brown, Inc. has a 52-week low of $78.70 and a 52-week high of $114.15. The company has a quick ratio of 1.73, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $31.07 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 2.84 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Research analysts predict that Brown & Brown, Inc. will post 4.15 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 17.34%.

Analysts Set New Price Targets

Several research firms recently issued reports on BRO. Truist Financial increased their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Bank of America increased their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods dropped their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Morgan Stanley began coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target for the company. Finally, Barclays upped their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus target price of $113.17.

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.