Stonebridge Financial Group LLC Has $6.16 Million Stake in Brown & Brown, Inc. $BRO

Stonebridge Financial Group LLC decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 55,577 shares of the financial services provider’s stock after selling 689 shares during the period. Stonebridge Financial Group LLC’s holdings in Brown & Brown were worth $6,162,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Phillips Wealth Planners LLC boosted its position in shares of Brown & Brown by 3.4% during 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 during the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Brown & Brown by 26.8% during the first quarter. SBI Securities Co. Ltd. now owns 454 shares of the financial services provider’s stock valued at $56,000 after buying an additional 96 shares during the last quarter. Graypoint LLC boosted its position in shares of Brown & Brown by 3.3% during the first quarter. Graypoint LLC now owns 3,208 shares of the financial services provider’s stock valued at $399,000 after buying an additional 103 shares during the last quarter. NorthRock Partners LLC boosted its position in shares of Brown & Brown by 4.2% during the first quarter. NorthRock Partners LLC now owns 2,530 shares of the financial services provider’s stock valued at $315,000 after buying an additional 103 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Brown & Brown by 4.3% during the second quarter. Parallel Advisors LLC now owns 2,508 shares of the financial services provider’s stock valued at $278,000 after buying an additional 103 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

BRO has been the topic of several research reports. Citigroup initiated coverage on Brown & Brown in a research report on Wednesday, August 13th. They issued a “buy” rating and a $112.00 target price on the stock. Wall Street Zen raised Brown & Brown from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Wells Fargo & Company dropped their target price on Brown & Brown from $101.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Truist Financial set a $120.00 target price on Brown & Brown in a research report on Wednesday, July 30th. Finally, Morgan Stanley dropped their target price on Brown & Brown from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and a consensus price target of $109.92.

Brown & Brown Stock Down 0.5%

NYSE BRO opened at $95.51 on Friday. The stock’s 50-day moving average price is $94.26 and its 200-day moving average price is $105.18. The company has a market capitalization of $31.50 billion, a P/E ratio of 27.52, a price-to-earnings-growth ratio of 2.17 and a beta of 0.79. Brown & Brown, Inc. has a 52 week low of $89.99 and a 52 week high of $125.68. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 0.64.

Brown & Brown (NYSE:BRO) last issued its earnings results 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. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. Brown & Brown had a return on equity of 15.10% and a net margin of 19.89%.The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company earned $0.93 EPS. On average, equities research 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 announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 13th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, August 13th. Brown & Brown’s dividend payout ratio (DPR) is 17.29%.

Insider Activity at Brown & Brown

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

About Brown & Brown

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.