Alliance Wealth Advisors LLC UT Purchases Shares of 3,908 Brown & Brown, Inc. (NYSE:BRO)

Alliance Wealth Advisors LLC UT acquired a new position in Brown & Brown, Inc. (NYSE:BRO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,908 shares of the financial services provider’s stock, valued at approximately $278,000.

Several other large investors have also modified their holdings of BRO. Fortitude Family Office LLC acquired a new stake in shares of Brown & Brown in the fourth quarter valued at about $31,000. Park Place Capital Corp increased its stake in Brown & Brown by 166.5% during the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 318 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Brown & Brown by 174.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 348 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its position in shares of Brown & Brown by 150.6% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 354 shares during the period. Finally, Mendota Financial Group LLC acquired a new stake in shares of Brown & Brown during the 4th quarter worth approximately $42,000. 71.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Hyatt J. Brown sold 144,323 shares of Brown & Brown stock in a transaction that occurred on 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 transaction, the chairman now owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 17.02% of the company’s stock.

Brown & Brown Trading Down 1.0 %

Shares of NYSE BRO traded down $0.82 during mid-day trading on Friday, hitting $81.46. The company’s stock had a trading volume of 1,710,291 shares, compared to its average volume of 1,280,265. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.95. The stock has a market cap of $23.24 billion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 2.23 and a beta of 0.78. The company’s fifty day simple moving average is $84.27 and its 200-day simple moving average is $77.17. Brown & Brown, Inc. has a one year low of $61.71 and a one year high of $87.99.

Brown & Brown (NYSE:BRO) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 EPS. On average, sell-side analysts anticipate that Brown & Brown, Inc. will post 3.61 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.64%. The ex-dividend date is Friday, May 3rd. Brown & Brown’s payout ratio is 16.00%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BRO shares. Bank of America cut Brown & Brown from a “neutral” rating to an “underperform” rating and raised their target price for the stock from $80.00 to $86.00 in a research report on Wednesday, March 13th. Royal Bank of Canada raised their price objective on shares of Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Wells Fargo & Company upped their target price on shares of Brown & Brown from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday. Citigroup lifted their price objective on Brown & Brown from $89.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Jefferies Financial Group downgraded Brown & Brown from a “buy” rating to a “hold” rating and cut their target price for the stock from $85.00 to $78.00 in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $87.10.

Brown & Brown Company 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.