Tandem Investment Advisors Inc. Has $76.11 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

Tandem Investment Advisors Inc. lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 10.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 746,032 shares of the financial services provider’s stock after purchasing an additional 68,577 shares during the quarter. Brown & Brown comprises approximately 2.9% of Tandem Investment Advisors Inc.’s holdings, making the stock its 18th biggest position. Tandem Investment Advisors Inc.’s holdings in Brown & Brown were worth $76,110,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BRO. Mogy Joel R Investment Counsel Inc. boosted its position in Brown & Brown by 324.3% during the fourth 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 during the period. Sanctuary Advisors LLC lifted its stake in shares of Brown & Brown by 4.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock worth $18,104,000 after buying an additional 6,805 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Brown & Brown by 1.4% during 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 buying an additional 17,934 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Brown & Brown during the 3rd quarter worth about $9,832,000. Finally, EULAV Asset Management grew its stake in Brown & Brown by 144.8% in the 4th quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock valued at $43,960,000 after buying an additional 254,900 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Price Performance

BRO stock opened at $111.69 on Friday. The company’s 50-day moving average price is $105.13 and its two-hundred day moving average price is $105.35. The firm has a market cap of $31.93 billion, a P/E ratio of 32.28, a P/E/G ratio of 2.95 and a beta of 0.86. 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, Inc. has a 12 month low of $80.33 and a 12 month high of $114.15.

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

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods cut 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 report on Friday, January 10th. Truist Financial lifted their price target on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley assumed coverage on Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective on the stock. Barclays lifted their target price on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Finally, StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average 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.