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

Stonebridge Financial Group LLC purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO) during the 4th quarter, HoldingsChannel reports. The firm purchased 56,431 shares of the financial services provider’s stock, valued at approximately $5,757,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BRO. Brooklyn Investment Group acquired a new position in Brown & Brown during the third quarter worth $26,000. ST Germain D J Co. Inc. boosted its stake in shares of Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Brown & Brown during the 3rd quarter valued at about $29,000. Y.D. More Investments Ltd raised 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 acquiring an additional 162 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Brown & Brown in the 4th quarter worth approximately $31,000. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on BRO shares. Royal Bank of Canada increased their price target 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 raised their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Bank of America raised their price target on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Morgan Stanley initiated coverage on 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 given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Price Performance

Shares of BRO stock opened at $108.90 on Tuesday. The company has a market capitalization of $31.14 billion, a P/E ratio of 31.47, a P/E/G ratio of 2.84 and a beta of 0.86. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $114.15. The stock has a 50 day moving average of $104.60 and a two-hundred day moving average of $104.82.

Brown & Brown (NYSE:BRO) last posted its quarterly 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 net margin of 20.68% and a return on equity of 17.81%. As a group, equities analysts expect that Brown & Brown, Inc. will post 4.15 EPS for the current 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 given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.55%. The ex-dividend date is Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 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.