Ibex Wealth Advisors Takes $6.30 Million Position in Brown & Brown, Inc. (NYSE:BRO)

Ibex Wealth Advisors acquired a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 61,728 shares of the financial services provider’s stock, valued at approximately $6,298,000.

Other large investors also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in Brown & Brown during the third quarter valued at about $26,000. ST Germain D J Co. Inc. raised its position in shares of Brown & Brown by 298.5% during the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Brown & Brown during the third quarter valued at $29,000. R Squared Ltd bought a new stake in Brown & Brown in the 4th quarter valued at $31,000. Finally, Versant Capital Management Inc lifted its stake in Brown & Brown by 130.7% in the 4th 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. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Down 1.2 %

Brown & Brown stock traded down $1.23 during trading hours on Wednesday, hitting $103.79. The company had a trading volume of 135,487 shares, compared to its average volume of 1,614,004. The company has a 50-day moving average price of $105.63 and a two-hundred day moving average price of $104.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. Brown & Brown, Inc. has a 1 year low of $75.79 and a 1 year high of $114.15. The firm has a market cap of $29.68 billion, a P/E ratio of 28.30, a P/E/G ratio of 2.12 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. On average, sell-side analysts anticipate that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.58%. Brown & Brown’s dividend payout ratio is currently 16.35%.

Analysts Set New Price Targets

A number of analysts have issued reports on BRO shares. Truist Financial lifted their price objective on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays upped their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Jefferies Financial Group lifted 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. Bank of America upped their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Royal Bank of Canada boosted their target price on Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $112.08.

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.