M Holdings Securities Inc. Buys New Shares in Brown & Brown, Inc. $BRO

M Holdings Securities Inc. bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 31,311 shares of the financial services provider’s stock, valued at approximately $2,495,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Zions Bancorporation National Association UT increased its position in shares of Brown & Brown by 2,037.9% during the 4th quarter. Zions Bancorporation National Association UT now owns 2,480 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 2,364 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Brown & Brown by 4.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 129,759 shares of the financial services provider’s stock worth $10,342,000 after purchasing an additional 5,894 shares during the last quarter. Deutsche Bank AG increased its position in shares of Brown & Brown by 53.0% during the 4th quarter. Deutsche Bank AG now owns 3,929,461 shares of the financial services provider’s stock worth $313,178,000 after purchasing an additional 1,361,934 shares during the last quarter. LPL Financial LLC increased its position in shares of Brown & Brown by 6.0% during the 4th quarter. LPL Financial LLC now owns 277,444 shares of the financial services provider’s stock worth $22,112,000 after purchasing an additional 15,663 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Brown & Brown by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 125,286 shares of the financial services provider’s stock worth $9,985,000 after purchasing an additional 1,924 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Bank of America lowered their price target on Brown & Brown from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Morgan Stanley lowered their price target on Brown & Brown from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 21st. Mizuho lowered their price target on Brown & Brown from $85.00 to $84.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Truist Financial lowered their price target on Brown & Brown from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Finally, Citizens Jmp assumed coverage on Brown & Brown in a research report on Thursday, May 21st. They set a “market outperform” rating and a $70.00 price target on the stock. Five analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus target price of $78.44.

Brown & Brown Stock Performance

BRO opened at $60.13 on Thursday. The business has a fifty day simple moving average of $61.30 and a 200 day simple moving average of $70.07. The company has a market capitalization of $20.38 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 2.72 and a beta of 0.63. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $111.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The firm’s quarterly revenue was up 35.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 EPS. Research analysts expect that Brown & Brown, Inc. will post 4.51 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were paid a $0.165 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.66 annualized dividend and a yield of 1.1%. Brown & Brown’s payout ratio is 21.22%.

Insider Transactions at Brown & Brown

In other news, Director H Palmer Proctor, Jr. purchased 2,000 shares of Brown & Brown stock in a transaction that occurred on Tuesday, May 5th. The stock was acquired at an average cost of $57.10 per share, for a total transaction of $114,200.00. Following the purchase, the director directly owned 47,621 shares of the company’s stock, valued at $2,719,159.10. This trade represents a 4.38% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.13% of the stock is owned by company insiders.

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.