Fifth Third Wealth Advisors LLC Acquires New Position in Brown & Brown, Inc. (NYSE:BRO)

Fifth Third Wealth Advisors LLC acquired a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,882 shares of the financial services provider’s stock, valued at approximately $234,000.

Other institutional investors also recently bought and sold shares of the company. Bleakley Financial Group LLC lifted its stake in shares of Brown & Brown by 3.4% in the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 103 shares during the period. Lido Advisors LLC raised its stake in Brown & Brown by 2.6% during the 4th quarter. Lido Advisors LLC now owns 4,690 shares of the financial services provider’s stock worth $479,000 after acquiring an additional 120 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Brown & Brown by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 20,379 shares of the financial services provider’s stock worth $2,079,000 after acquiring an additional 130 shares during the period. Frank Rimerman Advisors LLC raised its stake in Brown & Brown by 4.6% during the 4th quarter. Frank Rimerman Advisors LLC now owns 3,265 shares of the financial services provider’s stock worth $333,000 after acquiring an additional 143 shares during the period. Finally, Nissay Asset Management Corp Japan ADV raised its stake in Brown & Brown by 0.5% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 30,720 shares of the financial services provider’s stock worth $3,161,000 after acquiring an additional 144 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $111.24 on Thursday. The business’s 50 day moving average price is $114.09 and its 200 day moving average price is $111.25. The firm has a market cap of $31.88 billion, a P/E ratio of 32.15, a P/E/G ratio of 2.93 and a beta of 0.87. Brown & Brown, Inc. has a 52 week low of $88.31 and a 52 week high of $125.68. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last issued its 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 analysts’ expectations of $1.41 billion. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Brown & Brown’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS. On average, sell-side analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.54%. Brown & Brown’s dividend payout ratio is presently 16.71%.

Wall Street Analyst Weigh In

BRO has been the topic of a number of recent analyst reports. Edward Jones initiated coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They set a “buy” rating on the stock. Barclays raised their price target on Brown & Brown from $119.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, April 11th. Morgan Stanley reiterated an “equal weight” rating and set a $128.00 target price on shares of Brown & Brown in a research report on Tuesday, March 25th. Jefferies Financial Group lifted their price objective on Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a report on Friday, April 11th. Finally, Truist Financial reduced their target price on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $118.25.

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.