Kayne Anderson Rudnick Investment Management LLC Acquires 46,912 Shares of Brown & Brown, Inc. (NYSE:BRO)

Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,611,286 shares of the financial services provider’s stock after buying an additional 46,912 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Brown & Brown were worth $164,383,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in Brown & Brown during the fourth quarter valued at approximately $28,000. Y.D. More Investments Ltd boosted its holdings 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 buying an additional 162 shares during the last quarter. R Squared Ltd bought a new position in shares of Brown & Brown in the fourth quarter valued at $31,000. SBI Securities Co. Ltd. bought a new position in shares of Brown & Brown in the fourth quarter valued at $37,000. Finally, Versant Capital Management Inc raised its position in Brown & Brown by 130.7% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 234 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Down 1.4 %

BRO opened at $117.17 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 1-year low of $80.87 and a 1-year high of $125.68. The company has a market cap of $33.50 billion, a P/E ratio of 33.86, a PEG ratio of 2.93 and a beta of 0.75. The company’s 50 day moving average is $117.44 and its 200-day moving average is $110.10.

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

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid 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 0.51%. Brown & Brown’s dividend payout ratio is currently 17.34%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Truist Financial lifted their price objective on shares of Brown & Brown from $118.00 to $138.00 and gave the company a “buy” rating in a research report on Tuesday, April 15th. 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 research report on Wednesday, January 29th. Bank of America lifted their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods increased their price target on Brown & Brown from $97.00 to $102.00 and gave the company an “underperform” rating in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group raised their price target on Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $117.50.

Brown & Brown Company 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.