Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Forte Capital LLC ADV

Forte Capital LLC ADV lifted its stake in Brown & Brown, Inc. (NYSE:BRO) by 45.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,648 shares of the financial services provider’s stock after buying an additional 20,675 shares during the period. Forte Capital LLC ADV’s holdings in Brown & Brown were worth $4,739,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its holdings in Brown & Brown by 0.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,236,392 shares of the financial services provider’s stock worth $372,360,000 after acquiring an additional 29,514 shares during the period. Northern Trust Corp grew its holdings in Brown & Brown by 6.1% during the 3rd quarter. Northern Trust Corp now owns 2,285,511 shares of the financial services provider’s stock valued at $159,620,000 after purchasing an additional 130,647 shares in the last quarter. Royal Bank of Canada increased its stake in Brown & Brown by 15.9% during the 3rd quarter. Royal Bank of Canada now owns 1,715,645 shares of the financial services provider’s stock worth $119,821,000 after buying an additional 235,001 shares during the period. California Public Employees Retirement System lifted its holdings in Brown & Brown by 0.9% in the 3rd quarter. California Public Employees Retirement System now owns 1,516,285 shares of the financial services provider’s stock worth $105,897,000 after buying an additional 13,477 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Brown & Brown by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,221,896 shares of the financial services provider’s stock valued at $85,337,000 after buying an additional 16,109 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Performance

NYSE BRO traded up $0.78 during trading hours on Friday, reaching $83.50. The company’s stock had a trading volume of 1,012,970 shares, compared to its average volume of 1,399,759. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $84.18 and a 200 day simple moving average of $77.60. Brown & Brown, Inc. has a 52 week low of $61.71 and a 52 week high of $87.99. The stock has a market cap of $23.82 billion, a PE ratio of 25.69, a PEG ratio of 2.28 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.07. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.22 billion. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.84 EPS. Equities research analysts predict that Brown & Brown, Inc. will post 3.62 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, May 3rd. Brown & Brown’s dividend payout ratio (DPR) is 16.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Royal Bank of Canada increased their price target on Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Keefe, Bruyette & Woods lifted their price target on shares of Brown & Brown from $80.00 to $82.00 and gave the stock an “underperform” rating in a research note on Friday. Citigroup increased their price objective on shares of Brown & Brown from $89.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Bank of America downgraded shares of Brown & Brown from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from $80.00 to $86.00 in a research report on Wednesday, March 13th. Finally, The Goldman Sachs Group raised shares of Brown & Brown from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $84.00 to $83.00 in a research report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and an average price target of $87.30.

Insider Transactions at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.02% of the company’s stock.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.