Kentucky Retirement Systems Insurance Trust Fund Sells 620 Shares of Brown & Brown, Inc. (NYSE:BRO)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in Brown & Brown, Inc. (NYSE:BRO) by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,795 shares of the financial services provider’s stock after selling 620 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Brown & Brown were worth $682,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Headlands Technologies LLC acquired a new position in Brown & Brown in the first quarter worth about $32,000. Park Place Capital Corp raised its position in Brown & Brown by 166.5% in the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 318 shares in the last quarter. Alaska Permanent Fund Corp acquired a new position in Brown & Brown in the first quarter worth about $36,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in Brown & Brown by 174.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 348 shares in the last quarter. Finally, First PREMIER Bank acquired a new position in Brown & Brown in the first quarter worth about $40,000. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BRO shares. Royal Bank of Canada raised their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Friday. Citigroup raised their price objective on shares of Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Raymond James raised their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Wells Fargo & Company raised their price objective on shares of Brown & Brown from $88.00 to $94.00 and gave the stock an “equal weight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Brown & Brown presently has an average rating of “Hold” and an average target price of $97.40.

Brown & Brown Stock Up 1.8 %

BRO traded up $1.74 during trading on Friday, hitting $99.17. The company had a trading volume of 960,217 shares, compared to its average volume of 1,109,496. The company has a market capitalization of $28.29 billion, a PE ratio of 30.51, a PEG ratio of 2.47 and a beta of 0.82. Brown & Brown, Inc. has a one year low of $66.73 and a one year high of $99.26. The firm’s 50-day moving average price is $91.28 and its 200 day moving average price is $85.63. The company has a quick ratio of 1.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.05. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business earned $0.68 EPS. The company’s revenue was up 12.5% compared to the same quarter last year. As a group, equities analysts expect that Brown & Brown, Inc. will post 3.67 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th will be paid a dividend of $0.13 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.52 annualized dividend and a dividend yield of 0.52%. Brown & Brown’s dividend payout ratio is presently 16.00%.

Insider Transactions at Brown & Brown

In other news, EVP Julie Turpin sold 3,350 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $89.92, for a total transaction of $301,232.00. Following the transaction, the executive vice president now directly owns 23,597 shares in the company, valued at approximately $2,121,842.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.02% of the stock is owned by company insiders.

Brown & Brown Company 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.