HighTower Advisors LLC Has $2.85 Million Stock Holdings in Brown & Brown, Inc. $BRO

HighTower Advisors LLC reduced its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 22.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,364 shares of the financial services provider’s stock after selling 8,709 shares during the period. HighTower Advisors LLC’s holdings in Brown & Brown were worth $2,848,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC boosted its holdings in Brown & Brown by 423.1% during 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 during the period. Darwin Wealth Management LLC acquired a new position in shares of Brown & Brown during the 2nd quarter worth about $30,000. Motco bought a new stake in Brown & Brown during the 2nd quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Brown & Brown in the 2nd quarter valued at approximately $49,000. Finally, Evelyn Partners Investment Management LLP bought a new position in Brown & Brown in the 2nd quarter worth approximately $52,000. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BRO shares. Argus raised shares of Brown & Brown to a “hold” rating in a research report on Tuesday, January 27th. Truist Financial decreased their price target on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. BMO Capital Markets cut their price objective on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating for the company in a research report on Thursday, January 29th. JPMorgan Chase & Co. started coverage on Brown & Brown in a research report on Thursday, December 18th. They set a “neutral” rating and a $91.00 target price on the stock. Finally, Wells Fargo & Company reduced their price objective on Brown & Brown from $82.00 to $78.00 and set an “equal weight” rating for the company in a research report on Friday, February 13th. Three research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $90.36.

Brown & Brown Stock Performance

Shares of NYSE:BRO opened at $71.21 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66. The business’s fifty day moving average price is $75.51 and its two-hundred day moving average price is $83.68. Brown & Brown, Inc. has a fifty-two week low of $65.68 and a fifty-two week high of $125.68. The stock has a market capitalization of $24.24 billion, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 2.12 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last issued its 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 the consensus estimate of $1.65 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The firm’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 EPS. As a group, analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th were issued 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 dividend yield of 0.9%. Brown & Brown’s dividend payout ratio (DPR) is presently 20.63%.

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.