12,537 Shares in Brown & Brown, Inc. $BRO Purchased by Maridea Wealth Management LLC

Maridea Wealth Management LLC acquired a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,537 shares of the financial services provider’s stock, valued at approximately $1,097,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of BRO. Darwin Wealth Management LLC purchased a new position in shares of Brown & Brown during the 2nd quarter valued at approximately $30,000. Cornerstone Planning Group LLC raised its holdings in Brown & Brown by 423.1% in the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 220 shares in the last quarter. Motco bought a new position in Brown & Brown during the 2nd quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Brown & Brown during the 2nd quarter worth $49,000. Finally, Evelyn Partners Investment Management LLP acquired a new position in Brown & Brown during the 2nd quarter worth $52,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Trading Up 1.4%

Shares of NYSE:BRO opened at $69.76 on Thursday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $76.85 and its 200 day moving average price is $84.57. The company has a market cap of $23.75 billion, a PE ratio of 21.80, a P/E/G ratio of 2.08 and a beta of 0.79. Brown & Brown, Inc. has a fifty-two week low of $65.68 and a fifty-two week high of $125.68.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.65 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. Brown & Brown’s revenue was up 35.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 earnings per share. Sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.66 annualized dividend and a yield of 0.9%. Brown & Brown’s payout ratio is presently 20.63%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BRO shares. Morgan Stanley lowered their price objective on Brown & Brown from $85.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, January 29th. UBS Group reiterated a “neutral” rating and issued a $81.00 target price (down previously from $90.00) on shares of Brown & Brown in a research report on Thursday, January 29th. JPMorgan Chase & Co. assumed coverage on Brown & Brown in a research report on Thursday, December 18th. They set a “neutral” rating and a $91.00 price target on the stock. Citigroup cut Brown & Brown from a “buy” rating to a “neutral” rating in a research note on Monday, November 3rd. Finally, BMO Capital Markets lowered their target price on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating for the company in a research note on Thursday, January 29th. Three investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.36.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.