Corient Private Wealth LLC Has $42.03 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Corient Private Wealth LLC lifted its position in Brown & Brown, Inc. (NYSE:BRO) by 6.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 411,950 shares of the financial services provider’s stock after acquiring an additional 26,065 shares during the period. Corient Private Wealth LLC’s holdings in Brown & Brown were worth $42,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BRO. Victory Capital Management Inc. raised its stake in shares of Brown & Brown by 0.4% in the 3rd quarter. Victory Capital Management Inc. now owns 253,895 shares of the financial services provider’s stock valued at $26,304,000 after buying an additional 956 shares in the last quarter. KBC Group NV increased its stake in Brown & Brown by 30.0% in the third quarter. KBC Group NV now owns 41,228 shares of the financial services provider’s stock valued at $4,272,000 after acquiring an additional 9,507 shares during the period. CIBC Asset Management Inc raised its position in Brown & Brown by 7.7% in the third quarter. CIBC Asset Management Inc now owns 36,999 shares of the financial services provider’s stock worth $3,833,000 after purchasing an additional 2,636 shares in the last quarter. Empowered Funds LLC lifted its stake in Brown & Brown by 2.1% during the third quarter. Empowered Funds LLC now owns 20,684 shares of the financial services provider’s stock worth $2,143,000 after purchasing an additional 418 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Brown & Brown by 4.8% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 32,590 shares of the financial services provider’s stock valued at $3,376,000 after purchasing an additional 1,485 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BRO. Bank of America increased their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Morgan Stanley started coverage on Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective for the company. Royal Bank of Canada upped their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Stock Performance

BRO stock opened at $120.08 on Tuesday. The company has a 50 day moving average price of $109.79 and a 200 day moving average price of $107.20. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $121.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $34.33 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is 17.34%.

Brown & Brown 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.