Brown & Brown, Inc. (NYSE:BRO) Shares Bought by CWA Asset Management Group LLC

CWA Asset Management Group LLC lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,916 shares of the financial services provider’s stock after buying an additional 103 shares during the quarter. CWA Asset Management Group LLC’s holdings in Brown & Brown were worth $297,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Studio Investment Management LLC lifted its position in Brown & Brown by 1.5% during the third quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock worth $675,000 after buying an additional 96 shares in the last quarter. Trust Point Inc. raised its holdings in shares of Brown & Brown by 4.3% during the 3rd quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 103 shares during the period. Creative Planning boosted its position in shares of Brown & Brown by 0.4% during the 3rd quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after acquiring an additional 112 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Brown & Brown by 0.5% in the third quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider’s stock valued at $2,375,000 after purchasing an additional 113 shares during the period. Finally, Ascent Group LLC increased its position in Brown & Brown by 4.5% during the third quarter. Ascent Group LLC now owns 2,722 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $102.52 on Friday. The stock has a market cap of $29.32 billion, a P/E ratio of 27.93, a P/E/G ratio of 2.40 and a beta of 0.85. Brown & Brown, Inc. has a twelve month low of $70.99 and a twelve month high of $114.15. The stock has a 50 day moving average of $106.91 and a two-hundred day moving average of $102.62. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. Brown & Brown’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 EPS. On average, research analysts forecast that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a $0.15 dividend. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, November 6th. Brown & Brown’s payout ratio is currently 16.35%.

Wall Street Analysts Forecast Growth

BRO has been the topic of several analyst reports. Bank of America lifted their price target on shares of Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Argus assumed coverage on Brown & Brown in a report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target for the company. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Wells Fargo & Company increased their target price on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Truist Financial boosted their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and an average target price of $111.67.

About Brown & Brown

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.