Davidson Kahn Capital Management LLC Acquires Shares of 11,076 Brown & Brown, Inc. (NYSE:BRO)

Davidson Kahn Capital Management LLC purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,076 shares of the financial services provider’s stock, valued at approximately $1,130,000. Brown & Brown accounts for about 1.0% of Davidson Kahn Capital Management LLC’s portfolio, making the stock its 29th largest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BRO. Kohmann Bosshard Financial Services LLC bought a new position in shares of Brown & Brown in the fourth quarter worth $28,000. Johnson Financial Group Inc. lifted its position in Brown & Brown by 534.1% during the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock valued at $29,000 after buying an additional 235 shares during the period. Y.D. More Investments Ltd increased its holdings in shares of Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 162 shares in the last quarter. R Squared Ltd bought a new position in shares of Brown & Brown during the fourth quarter valued at $31,000. Finally, SBI Securities Co. Ltd. bought a new position in Brown & Brown during the fourth quarter valued at approximately $37,000. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

BRO has been the topic of several recent research reports. Morgan Stanley reiterated an “equal weight” rating and issued a $128.00 price target on shares of Brown & Brown in a research report on Tuesday, March 25th. Royal Bank of Canada upped their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Truist Financial decreased their price target on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods increased their price objective on Brown & Brown from $97.00 to $102.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group increased their target price on Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $116.83.

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $110.58 on Thursday. Brown & Brown, Inc. has a 12 month low of $81.57 and a 12 month high of $125.68. The company has a 50-day simple moving average of $117.98 and a 200-day simple moving average of $110.60. The company has a market cap of $31.62 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $1.14 earnings per share. On average, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 12th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.54%. Brown & Brown’s dividend payout ratio (DPR) is currently 17.34%.

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.