Whittier Trust Co. Purchases 16,310 Shares of Brown & Brown, Inc. $BRO

Whittier Trust Co. increased its position in Brown & Brown, Inc. (NYSE:BRO) by 9.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 196,182 shares of the financial services provider’s stock after acquiring an additional 16,310 shares during the quarter. Whittier Trust Co.’s holdings in Brown & Brown were worth $13,050,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ICONIQ Capital LLC increased its stake in shares of Brown & Brown by 5.4% in the second quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 109 shares during the period. Zacks Investment Management increased its position in Brown & Brown by 0.7% in the 3rd quarter. Zacks Investment Management now owns 17,854 shares of the financial services provider’s stock worth $1,675,000 after buying an additional 125 shares during the period. Private Trust Co. NA increased its position in Brown & Brown by 13.1% in the 4th quarter. Private Trust Co. NA now owns 1,147 shares of the financial services provider’s stock worth $91,000 after buying an additional 133 shares during the period. Moors & Cabot Inc. lifted its holdings in shares of Brown & Brown by 2.1% during the third quarter. Moors & Cabot Inc. now owns 6,805 shares of the financial services provider’s stock worth $638,000 after buying an additional 142 shares during the last quarter. Finally, Aptus Capital Advisors LLC lifted its holdings in shares of Brown & Brown by 1.7% during the third quarter. Aptus Capital Advisors LLC now owns 9,491 shares of the financial services provider’s stock worth $890,000 after buying an additional 160 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average price of $57.10 per share, with a total value of $114,200.00. Following the completion of the transaction, the director directly owned 47,621 shares of the company’s stock, valued at approximately $2,719,159.10. This trade represents a 4.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 13.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Brown & Brown from $91.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. The Goldman Sachs Group increased their price target on shares of Brown & Brown from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Raymond James Financial restated an “outperform” rating on shares of Brown & Brown in a research report on Friday, June 26th. Citigroup started coverage on shares of Brown & Brown in a research report on Thursday, May 21st. They set a “market outperform” rating for the company. Finally, Royal Bank Of Canada reduced their target price on shares of Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 29th. Five research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and a consensus price target of $78.25.

Brown & Brown Stock Down 0.2%

Shares of BRO stock opened at $69.87 on Monday. Brown & Brown, Inc. has a one year low of $53.81 and a one year high of $108.75. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a fifty day moving average price of $59.70 and a 200 day moving average price of $67.95. The stock has a market cap of $23.68 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 3.22 and a beta of 0.60.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. The business’s revenue for the quarter was up 35.4% on a year-over-year basis. Analysts predict that Brown & Brown, Inc. will post 4.52 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were paid a $0.165 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Brown & Brown’s payout ratio is presently 21.22%.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.