Apollon Wealth Management LLC Boosts Position in Brown & Brown, Inc. (NYSE:BRO)

Apollon Wealth Management LLC grew its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 10.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,766 shares of the financial services provider’s stock after acquiring an additional 254 shares during the quarter. Apollon Wealth Management LLC’s holdings in Brown & Brown were worth $282,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vest Financial LLC boosted its position in shares of Brown & Brown by 8.7% during the fourth quarter. Vest Financial LLC now owns 540,914 shares of the financial services provider’s stock valued at $55,184,000 after purchasing an additional 43,077 shares in the last quarter. EULAV Asset Management boosted its position in shares of Brown & Brown by 144.8% during the fourth quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock valued at $43,960,000 after purchasing an additional 254,900 shares in the last quarter. Global X Japan Co. Ltd. boosted its holdings in Brown & Brown by 14.3% in the fourth quarter. Global X Japan Co. Ltd. now owns 4,941 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 617 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Brown & Brown by 2.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,720 shares of the financial services provider’s stock worth $2,624,000 after acquiring an additional 666 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Brown & Brown by 1.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 577,705 shares of the financial services provider’s stock worth $58,937,000 after acquiring an additional 5,790 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on BRO. Truist Financial increased their price objective on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley began coverage on Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective on the stock. Wells Fargo & Company lifted their target price on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Barclays lifted their target price on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Finally, Bank of America raised their price target on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $113.17.

Brown & Brown Trading Down 0.4 %

BRO opened at $110.50 on Friday. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $114.15. The stock has a fifty day moving average price of $104.54 and a 200-day moving average price of $105.05. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56. The firm has a market cap of $31.60 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 2.84 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. As a group, equities research analysts anticipate that Brown & Brown, Inc. will post 4.15 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.54%. Brown & Brown’s payout ratio is presently 17.34%.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.