Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc cut its holdings in Brown & Brown, Inc. (NYSE:BRO) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 109,957 shares of the financial services provider’s stock after selling 1,358 shares during the period. Marks Group Wealth Management Inc’s holdings in Brown & Brown were worth $7,819,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of BRO. Wedge Capital Management L L P NC boosted its stake in Brown & Brown by 26.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 89,992 shares of the financial services provider’s stock valued at $6,399,000 after acquiring an additional 19,021 shares during the period. Brendel Financial Advisors LLC acquired a new position in Brown & Brown during the 4th quarter valued at approximately $3,311,000. CWM LLC grew its stake in Brown & Brown by 11.6% during the 4th quarter. CWM LLC now owns 5,428 shares of the financial services provider’s stock worth $386,000 after buying an additional 564 shares during the last quarter. Carmel Capital Partners LLC increased its position in Brown & Brown by 65.4% in the fourth quarter. Carmel Capital Partners LLC now owns 3,162 shares of the financial services provider’s stock worth $225,000 after buying an additional 1,250 shares during the period. Finally, abrdn plc increased its position in Brown & Brown by 91.0% in the fourth quarter. abrdn plc now owns 119,874 shares of the financial services provider’s stock worth $8,524,000 after buying an additional 57,119 shares during the period. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Sunday, March 17th. Wells Fargo & Company raised their price target on shares of Brown & Brown from $81.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Royal Bank of Canada lifted their price target on Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Keefe, Bruyette & Woods increased their price objective on Brown & Brown from $75.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, April 10th. Finally, Truist Financial lifted their target price on Brown & Brown from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $86.80.

Brown & Brown Price Performance

NYSE BRO traded up $0.34 on Monday, reaching $82.51. 1,545,130 shares of the stock traded hands, compared to its average volume of 1,332,720. Brown & Brown, Inc. has a 12 month low of $60.00 and a 12 month high of $87.99. The company has a market cap of $23.54 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 2.47 and a beta of 0.78. The firm’s fifty day simple moving average is $84.23 and its 200 day simple moving average is $76.82. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.58.

Brown & Brown (NYSE:BRO) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. The business had revenue of $1.03 billion during the quarter. During the same period in the prior year, the business earned $0.50 EPS. As a group, research analysts predict that Brown & Brown, Inc. will post 3.55 EPS for the current fiscal year.

Insider Buying and Selling at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 144,323 shares of Brown & Brown stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total value of $12,406,005.08. Following the transaction, the chairman now owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.43% of the stock is owned by corporate insiders.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.