Blair William & Co. IL Purchases 621 Shares of Brown & Brown, Inc. $BRO

Blair William & Co. IL raised its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,692 shares of the financial services provider’s stock after purchasing an additional 621 shares during the quarter. Blair William & Co. IL’s holdings in Brown & Brown were worth $2,516,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Copperwynd Financial LLC grew its position in Brown & Brown by 6.0% during the second quarter. Copperwynd Financial LLC now owns 2,394 shares of the financial services provider’s stock valued at $265,000 after buying an additional 136 shares during the period. Vontobel Holding Ltd. grew its holdings in Brown & Brown by 3.0% during the second quarter. Vontobel Holding Ltd. now owns 4,801 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 138 shares during the period. Maryland State Retirement & Pension System grew its holdings in Brown & Brown by 20.0% during the second quarter. Maryland State Retirement & Pension System now owns 13,395 shares of the financial services provider’s stock valued at $1,485,000 after purchasing an additional 2,232 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Brown & Brown by 15.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the financial services provider’s stock valued at $1,641,000 after acquiring an additional 2,000 shares during the period. Finally, Roundview Capital LLC grew its stake in shares of Brown & Brown by 11.0% during the 2nd quarter. Roundview Capital LLC now owns 26,189 shares of the financial services provider’s stock valued at $2,904,000 after acquiring an additional 2,603 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BRO has been the subject of a number of recent analyst reports. Truist Financial set a $120.00 price target on shares of Brown & Brown in a research report on Wednesday, July 30th. Barclays dropped their price objective on Brown & Brown from $108.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. UBS Group dropped their price objective on Brown & Brown from $120.00 to $106.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Citigroup started coverage on Brown & Brown in a research note on Wednesday, August 13th. They issued a “buy” rating and a $112.00 price target for the company. Finally, Morgan Stanley dropped their price target on Brown & Brown from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $109.92.

Brown & Brown Price Performance

BRO stock opened at $94.86 on Wednesday. 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. The company has a fifty day simple moving average of $94.44 and a two-hundred day simple moving average of $104.49. The firm has a market capitalization of $31.29 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 2.14 and a beta of 0.79.

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

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 13th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, August 13th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.29%.

Insider Activity at Brown & Brown

In related news, Director Bronislaw Edmund Masojada purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average cost of $91.44 per share, for a total transaction of $91,440.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at $457,200. This represents a 25.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Paul J. Krump purchased 2,678 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $93.31 per share, with a total value of $249,884.18. Following the completion of the transaction, the director owned 5,353 shares of the company’s stock, valued at $499,488.43. The trade was a 100.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.59% of the stock is owned by company insiders.

Brown & Brown Company 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.