Brown & Brown, Inc. (NYSE:BRO) Shares Sold by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC trimmed its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 9.9% in the fourth quarter, HoldingsChannel reports. The firm owned 98,527 shares of the financial services provider’s stock after selling 10,797 shares during the period. WealthPlan Investment Management LLC’s holdings in Brown & Brown were worth $10,052,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in shares of Brown & Brown during the third quarter valued at about $26,000. ST Germain D J Co. Inc. lifted its position in Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 200 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Brown & Brown during the 3rd quarter valued at $29,000. Y.D. More Investments Ltd lifted its holdings in shares of Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after buying an additional 162 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Brown & Brown in the fourth quarter valued at $31,000. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BRO. Bank of America boosted 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. Truist Financial boosted their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays raised their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods dropped their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. Finally, StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. One equities research 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’s stock. According to data from MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and an average price target of $113.17.

Brown & Brown Price Performance

BRO opened at $110.50 on Friday. The stock has a market cap of $31.60 billion, a price-to-earnings ratio of 31.94, a PEG 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 1 year low of $80.33 and a 1 year high of $114.15. The stock has a fifty day moving average price of $104.54 and a 200 day moving average price of $105.05.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Brown & Brown, Inc. will post 4.15 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.54%. Brown & Brown’s dividend payout ratio (DPR) is currently 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.