Congress Wealth Management LLC DE Makes New Investment in Brown & Brown, Inc. (NYSE:BRO)

Congress Wealth Management LLC DE acquired a new stake in Brown & Brown, Inc. (NYSE:BRO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 130,295 shares of the financial services provider’s stock, valued at approximately $9,265,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE grew its stake in Brown & Brown by 41.2% in the 4th quarter. US Bancorp DE now owns 40,441 shares of the financial services provider’s stock valued at $2,876,000 after acquiring an additional 11,810 shares during the period. Prospector Partners LLC grew its position in shares of Brown & Brown by 0.3% in the fourth quarter. Prospector Partners LLC now owns 290,777 shares of the financial services provider’s stock valued at $20,677,000 after purchasing an additional 940 shares during the period. Corient Private Wealth LLC increased its stake in shares of Brown & Brown by 6.7% during the fourth quarter. Corient Private Wealth LLC now owns 255,653 shares of the financial services provider’s stock worth $18,180,000 after purchasing an additional 15,976 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Brown & Brown by 1.5% during the 4th quarter. D.A. Davidson & CO. now owns 24,250 shares of the financial services provider’s stock worth $1,724,000 after purchasing an additional 368 shares during the last quarter. Finally, UBS Group AG boosted its holdings in Brown & Brown by 20.8% in the 4th quarter. UBS Group AG now owns 460,797 shares of the financial services provider’s stock worth $32,767,000 after buying an additional 79,237 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Trading Up 0.3 %

Shares of NYSE BRO traded up $0.25 during midday trading on Friday, reaching $89.36. 791,764 shares of the stock were exchanged, compared to its average volume of 1,226,229. The stock has a market capitalization of $25.49 billion, a P/E ratio of 27.50, a PEG ratio of 2.34 and a beta of 0.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.97 and a current ratio of 1.97. The company has a 50 day simple moving average of $85.16 and a 200 day simple moving average of $79.53. Brown & Brown, Inc. has a twelve month low of $61.71 and a twelve month high of $91.70.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.07. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business posted $0.84 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities analysts expect that Brown & Brown, Inc. will post 3.61 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.58%. The ex-dividend date was Friday, May 3rd. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Analyst Ratings Changes

A number of brokerages have commented on BRO. Royal Bank of Canada increased their target price on Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Keefe, Bruyette & Woods upped their target price on shares of Brown & Brown from $80.00 to $82.00 and gave the stock an “underperform” rating in a report on Friday, May 3rd. UBS Group increased their target price on shares of Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Finally, Wells Fargo & Company boosted their price target on shares of Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $88.80.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the sale, the chairman now owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 17.02% of the company’s stock.

Brown & Brown Profile

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.