eCIO Inc. Invests $184,000 in Brown & Brown, Inc. $BRO

eCIO Inc. acquired a new stake in Brown & Brown, Inc. (NYSE:BRO) in the 1st quarter, Holdings Channel.com reports. The firm acquired 1,478 shares of the financial services provider’s stock, valued at approximately $184,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Phillips Wealth Planners LLC increased its holdings in Brown & Brown by 3.4% in the first quarter. Phillips Wealth Planners LLC now owns 2,659 shares of the financial services provider’s stock valued at $316,000 after buying an additional 88 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Brown & Brown by 26.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 454 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 96 shares in the last quarter. Gateway Investment Advisers LLC raised its holdings in Brown & Brown by 2.3% during the first quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider’s stock worth $536,000 after purchasing an additional 97 shares during the last quarter. Graypoint LLC raised its holdings in Brown & Brown by 3.3% during the first quarter. Graypoint LLC now owns 3,208 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 103 shares during the last quarter. Finally, NorthRock Partners LLC boosted its position in Brown & Brown by 4.2% during the first quarter. NorthRock Partners LLC now owns 2,530 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 103 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Director Paul J. Krump acquired 2,678 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $93.31 per share, for a total transaction of $249,884.18. Following the completion of the acquisition, the director directly owned 5,353 shares of the company’s stock, valued at $499,488.43. This trade represents a 100.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bronislaw Edmund Masojada bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average price of $91.44 per share, with a total value of $91,440.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $457,200. The trade was a 25.00% increase in their position. The disclosure for this purchase can be found here. 17.02% of the stock is owned by company insiders.

Brown & Brown Price Performance

Brown & Brown stock opened at $94.22 on Friday. The stock has a market capitalization of $31.08 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.10 and a beta of 0.81. Brown & Brown, Inc. has a 12-month low of $90.38 and a 12-month high of $125.68. The company has a debt-to-equity ratio of 0.64, a current ratio of 6.72 and a quick ratio of 6.72. The firm’s 50-day moving average is $98.29 and its two-hundred day moving average is $108.66.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, July 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 13th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, August 13th. Brown & Brown’s dividend payout ratio is currently 17.29%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BRO shares. Citigroup initiated coverage on Brown & Brown in a research report on Wednesday, August 13th. They issued a “buy” rating and a $112.00 price target for the company. Truist Financial set a $120.00 price objective on shares of Brown & Brown in a research note on Wednesday, July 30th. Barclays cut their target price on shares of Brown & Brown from $111.00 to $108.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $120.00 price target (down previously from $125.00) on shares of Brown & Brown in a report on Monday, August 4th. Finally, BMO Capital Markets dropped their price objective on shares of Brown & Brown from $122.00 to $106.00 and set an “outperform” rating for the company in a research note on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and an average price target of $112.64.

Brown & Brown 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.