Genesis Private Wealth LLC Invests $219,000 in Brown & Brown, Inc. (NYSE:BRO)

Genesis Private Wealth LLC bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,148 shares of the financial services provider’s stock, valued at approximately $219,000.

A number of other hedge funds also recently modified their holdings of BRO. Sanctuary Advisors LLC raised its stake in Brown & Brown by 4.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock worth $18,104,000 after purchasing an additional 6,805 shares in the last quarter. Mogy Joel R Investment Counsel Inc. raised its stake in Brown & Brown by 324.3% in the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock worth $1,967,000 after purchasing an additional 14,740 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Brown & Brown in the 3rd quarter worth about $9,832,000. Charles Schwab Investment Management Inc. raised its stake in Brown & Brown by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock worth $136,302,000 after purchasing an additional 17,934 shares in the last quarter. Finally, Peak Financial Advisors LLC acquired a new stake in Brown & Brown in the 4th quarter worth about $3,037,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.2 %

Shares of Brown & Brown stock opened at $105.75 on Wednesday. The firm has a market capitalization of $30.24 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. The firm’s 50 day moving average is $106.19 and its 200 day moving average is $103.47. Brown & Brown, Inc. has a 1 year low of $74.69 and a 1 year high of $114.15.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm posted $0.71 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. Equities research analysts forecast that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Wells Fargo & Company lifted their price objective on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Truist Financial boosted their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley began coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price for the company. Finally, Barclays boosted 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and a consensus price target of $112.08.

About Brown & Brown

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.