Marshall Financial Group LLC Buys Shares of 11,222 Brown & Brown, Inc. (NYSE:BRO)

Marshall Financial Group LLC bought a new stake in Brown & Brown, Inc. (NYSE:BRO) during the second quarter, Holdings Channel reports. The institutional investor bought 11,222 shares of the financial services provider’s stock, valued at approximately $1,003,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Trust Walden Corp grew its stake in Brown & Brown by 0.3% in the second quarter. Boston Trust Walden Corp now owns 100,558 shares of the financial services provider’s stock valued at $8,991,000 after purchasing an additional 315 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Brown & Brown by 142.3% in the second quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock worth $48,000 after buying an additional 323 shares during the last quarter. Outlook Wealth Advisors LLC acquired a new stake in shares of Brown & Brown in the second quarter worth about $343,000. Portside Wealth Group LLC lifted its position in shares of Brown & Brown by 26.2% in the second quarter. Portside Wealth Group LLC now owns 7,441 shares of the financial services provider’s stock worth $665,000 after buying an additional 1,543 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Brown & Brown by 162.3% in the second quarter. Assenagon Asset Management S.A. now owns 488,483 shares of the financial services provider’s stock worth $43,675,000 after buying an additional 302,240 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Activity at Brown & Brown

In related news, EVP Julie Turpin sold 3,350 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was 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 $2,121,842.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO R. Andrew Watts sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the sale, the chief financial officer now directly owns 88,445 shares in the company, valued at approximately $8,872,802.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Julie Turpin sold 3,350 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 23,597 shares in the company, valued at $2,121,842.24. The disclosure for this sale can be found here. Corporate insiders own 17.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Raymond James boosted their price target on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Truist Financial boosted their price target on Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their price target on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Bank of America raised Brown & Brown from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $91.00 to $101.00 in a research report on Wednesday, May 22nd. Finally, UBS Group boosted their price objective on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Brown & Brown presently has an average rating of “Moderate Buy” and a consensus target price of $99.20.

Brown & Brown Stock Performance

Shares of NYSE BRO traded up $0.68 during trading hours on Friday, hitting $101.87. 1,458,427 shares of the company’s stock were exchanged, compared to its average volume of 1,322,227. Brown & Brown, Inc. has a 1-year low of $66.73 and a 1-year high of $103.16. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35. The stock has a market capitalization of $29.06 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 2.35 and a beta of 0.82. The company’s 50-day moving average price is $94.53 and its 200-day moving average price is $88.11.

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 return on equity of 17.00% and a net margin of 21.95%. 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 company posted $0.68 earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, sell-side analysts expect that Brown & Brown, Inc. will post 3.68 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were paid a dividend of $0.13 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.52 annualized dividend and a yield of 0.51%. Brown & Brown’s dividend payout ratio is 16.00%.

Brown & Brown 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.