EverSource Wealth Advisors LLC Boosts Stake in Brown & Brown, Inc. (NYSE:BRO)

EverSource Wealth Advisors LLC raised its position in Brown & Brown, Inc. (NYSE:BRO) by 79.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 490 shares of the financial services provider’s stock after buying an additional 217 shares during the period. EverSource Wealth Advisors LLC’s holdings in Brown & Brown were worth $50,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BRO. Brooklyn Investment Group bought a new position in shares of Brown & Brown during the third quarter worth about $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Brown & Brown during the fourth quarter worth about $28,000. Y.D. More Investments Ltd lifted its position 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 worth $30,000 after purchasing an additional 162 shares during the last quarter. R Squared Ltd bought a new position in shares of Brown & Brown during the fourth quarter worth about $31,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Brown & Brown during the fourth quarter worth about $37,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Price Performance

Shares of NYSE:BRO opened at $119.93 on Thursday. The firm’s 50 day moving average is $110.53 and its two-hundred day moving average is $107.41. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $121.25. The firm has a market capitalization of $34.29 billion, a P/E ratio of 34.66, a PEG ratio of 2.93 and a beta of 0.86. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Analysts anticipate 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, February 12th. Investors of record on Wednesday, February 5th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.50%. Brown & Brown’s dividend payout ratio is presently 17.34%.

Wall Street Analyst Weigh In

BRO has been the topic of several research analyst reports. Royal Bank of Canada increased their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company increased their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Morgan Stanley initiated coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price on the stock. Bank of America raised their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Barclays raised their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $113.17.

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.