Everence Capital Management Inc. Has $1.46 Million Position in Brown & Brown, Inc. (NYSE:BRO)

Everence Capital Management Inc. cut its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,270 shares of the financial services provider’s stock after selling 770 shares during the quarter. Everence Capital Management Inc.’s holdings in Brown & Brown were worth $1,456,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BRO. Brooklyn Investment Group bought a new position in shares of Brown & Brown during the 3rd quarter worth approximately $26,000. ST Germain D J Co. Inc. boosted its holdings in Brown & Brown by 298.5% during the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Brown & Brown during the third quarter worth $29,000. Versant Capital Management Inc grew its position in Brown & Brown by 130.7% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 234 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in Brown & Brown by 65.7% in the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after buying an additional 211 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

BRO has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Morgan Stanley assumed coverage on Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target for the company. Truist Financial upped their price objective on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays raised 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 note on Thursday, November 21st. Finally, Argus started coverage on shares of Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Brown & Brown currently has an average rating of “Moderate Buy” and a consensus price target of $109.46.

Brown & Brown Stock Up 1.0 %

Shares of BRO opened at $101.59 on Friday. The firm has a market cap of $29.05 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 2.40 and a beta of 0.85. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. Brown & Brown, Inc. has a 52 week low of $69.24 and a 52 week high of $114.15. The firm’s 50-day simple moving average is $107.11 and its 200 day simple moving average is $102.37.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm posted $0.71 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts forecast that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.59%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, November 6th. Brown & Brown’s dividend payout ratio (DPR) is currently 16.35%.

Brown & Brown Profile

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.