Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc cut its stake in Brown & Brown, Inc. (NYSE:BRO) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,957 shares of the financial services provider’s stock after selling 1,358 shares during the period. Marks Group Wealth Management Inc’s holdings in Brown & Brown were worth $7,819,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BRO. Fortitude Family Office LLC purchased a new stake in Brown & Brown in the fourth quarter valued at approximately $31,000. Park Place Capital Corp raised its position in Brown & Brown by 166.5% in the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 318 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Brown & Brown by 174.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 348 shares during the period. GPS Wealth Strategies Group LLC grew its position in Brown & Brown by 150.6% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 354 shares during the last quarter. Finally, Mendota Financial Group LLC purchased a new position in Brown & Brown during the 4th quarter worth $42,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BRO shares. Truist Financial increased their target price on shares of Brown & Brown from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Wells Fargo & Company boosted their target price on Brown & Brown from $81.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Sunday, March 17th. Keefe, Bruyette & Woods raised their target price on shares of Brown & Brown from $75.00 to $80.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 10th. Finally, Jefferies Financial Group lowered shares of Brown & Brown from a “buy” rating to a “hold” rating and dropped their price target for the stock from $85.00 to $78.00 in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus price target of $86.80.

Insider Buying and Selling

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the sale, the chairman now owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.43% of the stock is currently owned by insiders.

Brown & Brown Price Performance

BRO stock traded up $0.34 during trading on Monday, reaching $82.51. 1,545,130 shares of the company were exchanged, compared to its average volume of 1,332,720. Brown & Brown, Inc. has a 52-week low of $60.00 and a 52-week high of $87.99. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $23.54 billion, a P/E ratio of 26.96, a PEG ratio of 2.47 and a beta of 0.78. The stock’s 50 day moving average price is $84.23 and its 200 day moving average price is $76.82.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. The business had revenue of $1.03 billion for the quarter. During the same period last year, the firm earned $0.50 EPS. As a group, analysts predict that Brown & Brown, Inc. will post 3.55 earnings per share for the current fiscal year.

About Brown & Brown

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.