First Affirmative Financial Network Sells 210 Shares of Brown & Brown, Inc. (NYSE:BRO)

First Affirmative Financial Network decreased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 7.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,737 shares of the financial services provider’s stock after selling 210 shares during the period. First Affirmative Financial Network’s holdings in Brown & Brown were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of BRO. Brooklyn Investment Group bought a new position in Brown & Brown in the third quarter worth approximately $26,000. ST Germain D J Co. Inc. raised its stake in Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Brown & Brown in the third quarter worth approximately $29,000. R Squared Ltd bought a new position in Brown & Brown in the fourth quarter worth approximately $31,000. Finally, Versant Capital Management Inc increased its position in shares of Brown & Brown by 130.7% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 234 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 2.3 %

BRO stock opened at $105.53 on Friday. The company’s 50-day simple moving average is $105.40 and its 200-day simple moving average is $104.09. The company has a quick ratio of 1.73, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 52-week low of $75.79 and a 52-week high of $114.15. The firm has a market cap of $30.18 billion, a P/E ratio of 30.50, a PEG ratio of 2.68 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last released its quarterly 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 net margin of 20.68% and a return on equity of 17.81%. As a group, equities analysts forecast that Brown & Brown, Inc. will post 4.15 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.57%. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BRO. Barclays upped their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Wells Fargo & Company upped their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada upped their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday. Jefferies Financial Group upped their price target on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Truist Financial upped their price target on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report 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 given a buy rating to the stock. According to data from MarketBeat, Brown & Brown presently has an average rating of “Hold” and an average price target of $113.17.

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.