Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,879 shares of the financial services provider’s stock after selling 113 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Brown & Brown were worth $396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in Brown & Brown by 0.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider’s stock worth $405,638,000 after buying an additional 28,180 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Brown & Brown by 24.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock worth $311,979,000 after acquiring an additional 687,783 shares during the period. Barclays PLC boosted its position in shares of Brown & Brown by 17.8% in the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after acquiring an additional 371,980 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Brown & Brown by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,553,396 shares of the financial services provider’s stock valued at $138,899,000 after purchasing an additional 114,688 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in Brown & Brown by 7.0% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,508,123 shares of the financial services provider’s stock worth $134,841,000 after purchasing an additional 99,155 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.1 %

NYSE:BRO opened at $103.70 on Thursday. Brown & Brown, Inc. has a one year low of $73.23 and a one year high of $114.15. The business’s 50-day simple moving average is $106.54 and its 200 day simple moving average is $103.04. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market cap of $29.65 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 2.14 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company posted $0.71 EPS. Brown & Brown’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a $0.15 dividend. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.58%. The ex-dividend date was Wednesday, November 6th. Brown & Brown’s payout ratio is currently 16.35%.

Wall Street Analyst Weigh In

BRO has been the subject of several research reports. Bank of America boosted their price objective on shares of Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Jefferies Financial Group increased their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Morgan Stanley started coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target for the company. Finally, Argus began coverage on Brown & Brown in a research report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $112.08.

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.