Curio Wealth LLC Buys Shares of 1,200 Brown & Brown, Inc. (NYSE:BRO)

Curio Wealth LLC bought a new stake in Brown & Brown, Inc. (NYSE:BRO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,200 shares of the financial services provider’s stock, valued at approximately $122,000.

Several other large investors also recently added to or reduced their stakes in the stock. Studio Investment Management LLC grew its position in Brown & Brown by 1.5% in the third quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock worth $675,000 after acquiring an additional 96 shares during the period. Journey Strategic Wealth LLC grew its position in Brown & Brown by 2.3% in the fourth quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock worth $458,000 after acquiring an additional 99 shares during the period. CWA Asset Management Group LLC grew its position in Brown & Brown by 3.7% in the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 103 shares during the period. Bleakley Financial Group LLC grew its position in Brown & Brown by 3.4% in the fourth quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 103 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in Brown & Brown by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 4,664 shares of the financial services provider’s stock worth $476,000 after acquiring an additional 113 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BRO. Barclays increased 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. Royal Bank of Canada increased their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Bank of America increased their price objective 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 lowered 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 report on Friday, January 10th. Finally, Morgan Stanley initiated coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective for the company. 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 company’s stock. Based on data from MarketBeat, Brown & Brown has a consensus rating of “Hold” and an average target price of $113.17.

Brown & Brown Stock Performance

Shares of BRO opened at $118.21 on Monday. The stock has a 50-day simple moving average of $109.79 and a 200-day simple moving average of $107.20. 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 stock has a market capitalization of $33.80 billion, a PE ratio of 34.16, a PEG ratio of 2.93 and a beta of 0.85. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $121.25.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) 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%. On average, analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is 17.34%.

Brown & Brown 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.