Brown & Brown, Inc. $BRO Shares Acquired by Maridea Wealth Management LLC

Maridea Wealth Management LLC boosted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 87.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,442 shares of the financial services provider’s stock after purchasing an additional 10,905 shares during the quarter. Maridea Wealth Management LLC’s holdings in Brown & Brown were worth $1,868,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BRO. American National Bank of Texas boosted its position in shares of Brown & Brown by 5.7% in the fourth quarter. American National Bank of Texas now owns 4,911 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 264 shares during the last quarter. Impact Capital Partners LLC acquired a new position in shares of Brown & Brown in the 4th quarter valued at $221,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Brown & Brown by 60.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,418 shares of the financial services provider’s stock valued at $113,000 after buying an additional 535 shares during the period. Gilbert & Cook Inc. increased its stake in Brown & Brown by 3.8% during the fourth quarter. Gilbert & Cook Inc. now owns 11,202 shares of the financial services provider’s stock worth $893,000 after acquiring an additional 413 shares during the last quarter. Finally, Board of the Pension Protection Fund purchased a new position in shares of Brown & Brown in the 4th quarter valued at $40,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BRO shares. Morgan Stanley dropped their price objective on shares of Brown & Brown from $85.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 29th. Barclays dropped their price target on Brown & Brown from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 11th. UBS Group reiterated a “neutral” rating and issued a $81.00 price objective (down from $90.00) on shares of Brown & Brown in a research report on Thursday, January 29th. JPMorgan Chase & Co. started coverage on shares of Brown & Brown in a research report on Thursday, December 18th. They issued a “neutral” rating and a $91.00 target price for the company. Finally, Royal Bank Of Canada assumed coverage on Brown & Brown in a research report on Tuesday, March 17th. They set a “sector perform” rating and a $76.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $89.33.

Brown & Brown Stock Up 0.8%

Shares of Brown & Brown stock opened at $67.11 on Friday. The firm has a market cap of $22.84 billion, a price-to-earnings ratio of 20.97, a P/E/G ratio of 1.69 and a beta of 0.79. The stock has a 50-day simple moving average of $72.23 and a 200-day simple moving average of $80.66. Brown & Brown, Inc. has a 52-week low of $65.68 and a 52-week high of $125.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The company’s revenue was up 35.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. On average, equities research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th were given a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. Brown & Brown’s payout ratio is currently 20.63%.

About Brown & Brown

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.