Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by SRN Advisors LLC

SRN Advisors LLC boosted its position in Brown & Brown, Inc. (NYSE:BRO) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,706 shares of the financial services provider’s stock after purchasing an additional 546 shares during the period. SRN Advisors LLC’s holdings in Brown & Brown were worth $1,025,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System lifted its position in Brown & Brown by 2.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 267,190 shares of the financial services provider’s stock valued at $23,390,000 after purchasing an additional 6,613 shares during the period. Sei Investments Co. increased its holdings in Brown & Brown by 12.7% in the first quarter. Sei Investments Co. now owns 276,090 shares of the financial services provider’s stock valued at $24,169,000 after buying an additional 31,071 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Brown & Brown by 206.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 15,302 shares of the financial services provider’s stock valued at $1,088,000 after buying an additional 10,301 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Brown & Brown by 55.4% in the fourth quarter. Russell Investments Group Ltd. now owns 358,929 shares of the financial services provider’s stock valued at $25,519,000 after buying an additional 127,903 shares in the last quarter. Finally, WCM Investment Management LLC increased its holdings in Brown & Brown by 13.4% in the fourth quarter. WCM Investment Management LLC now owns 107,979 shares of the financial services provider’s stock valued at $7,658,000 after buying an additional 12,748 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BRO. UBS Group increased their target price on shares of Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Truist Financial increased their target price on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. 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 research note on Wednesday, July 24th. Finally, 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 research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $97.40.

Insider Buying and Selling at Brown & Brown

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

Brown & Brown Trading Up 0.4 %

BRO stock traded up $0.42 during midday trading on Friday, hitting $101.22. The stock had a trading volume of 1,420,825 shares, compared to its average volume of 1,216,174. The firm has a market cap of $28.87 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 2.51 and a beta of 0.82. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35. Brown & Brown, Inc. has a 12-month low of $66.73 and a 12-month high of $103.16. The company’s 50-day moving average price is $92.29 and its 200 day moving average price is $86.37.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.88 by $0.05. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. Brown & Brown’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. On average, equities research analysts predict that Brown & Brown, Inc. will post 3.67 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.51%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

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.