Suncoast Equity Management Purchases 1,655 Shares of Brown & Brown, Inc. (NYSE:BRO)

Suncoast Equity Management boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 11.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,010 shares of the financial services provider’s stock after purchasing an additional 1,655 shares during the period. Suncoast Equity Management’s holdings in Brown & Brown were worth $1,633,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on BRO shares. 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 target price on the stock. Wells Fargo & Company raised their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods lowered their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Royal Bank of Canada boosted their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Truist Financial raised their price objective on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One 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. Based on data from MarketBeat, Brown & Brown has a consensus rating of “Hold” and an average price target of $113.17.

Brown & Brown Trading Down 0.6 %

NYSE BRO opened at $111.69 on Friday. The stock has a market capitalization of $31.93 billion, a P/E ratio of 32.28, a P/E/G ratio of 2.95 and a beta of 0.86. The business has a 50 day simple moving average of $105.13 and a 200 day simple moving average of $105.35. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $114.15.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) 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%. Research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s payout ratio is 17.34%.

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.