2,092 Shares in Brown & Brown, Inc. (NYSE:BRO) Bought by Angeles Wealth Management LLC

Angeles Wealth Management LLC acquired a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,092 shares of the financial services provider’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also modified their holdings of BRO. Kestra Private Wealth Services LLC raised its holdings in Brown & Brown by 6.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 6,483 shares of the financial services provider’s stock valued at $661,000 after buying an additional 406 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Brown & Brown by 80.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 58,915 shares of the financial services provider’s stock valued at $6,011,000 after buying an additional 26,325 shares in the last quarter. Howland Capital Management LLC bought a new position in Brown & Brown during the fourth quarter valued at about $526,000. RFP Financial Group LLC bought a new position in Brown & Brown during the fourth quarter valued at about $201,000. Finally, Empowered Funds LLC raised its holdings in Brown & Brown by 6.6% during the fourth quarter. Empowered Funds LLC now owns 22,046 shares of the financial services provider’s stock valued at $2,249,000 after buying an additional 1,362 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Stock Up 0.3 %

BRO stock opened at $108.90 on Tuesday. Brown & Brown, Inc. has a twelve month low of $80.33 and a twelve month high of $114.15. The company has a market cap of $31.14 billion, a PE ratio of 31.47, a price-to-earnings-growth ratio of 2.84 and a beta of 0.86. The business’s 50-day simple moving average is $104.60 and its 200 day simple moving average is $104.82. The company has a quick ratio of 1.73, a current ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping 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%. On average, research analysts anticipate that Brown & Brown, Inc. will post 4.15 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be issued 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 is Wednesday, February 5th. Brown & Brown’s payout ratio is 17.34%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BRO. Royal Bank of Canada raised their target price on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Truist Financial lifted their price objective on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods dropped their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Finally, StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. One research 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.