Compass Ion Advisors LLC Grows Stake in Brown & Brown, Inc. (NYSE:BRO)

Compass Ion Advisors LLC boosted its stake in Brown & Brown, Inc. (NYSE:BRO) by 13.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,662 shares of the financial services provider’s stock after buying an additional 1,375 shares during the quarter. Compass Ion Advisors LLC’s holdings in Brown & Brown were worth $1,021,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BRO. SG Americas Securities LLC increased its position in shares of Brown & Brown by 86.9% during the fourth quarter. SG Americas Securities LLC now owns 24,866 shares of the financial services provider’s stock worth $1,768,000 after purchasing an additional 11,559 shares in the last quarter. Patton Fund Management Inc. purchased a new stake in shares of Brown & Brown during the fourth quarter worth $4,765,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Brown & Brown by 206.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 15,302 shares of the financial services provider’s stock valued at $1,088,000 after buying an additional 10,301 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Brown & Brown by 55.4% in the fourth quarter. Russell Investments Group Ltd. now owns 358,929 shares of the financial services provider’s stock worth $25,519,000 after buying an additional 127,903 shares in the last quarter. Finally, Whittier Trust Co. boosted its position in Brown & Brown by 12.1% during the fourth quarter. Whittier Trust Co. now owns 162,226 shares of the financial services provider’s stock worth $11,536,000 after acquiring an additional 17,479 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

NYSE:BRO opened at $89.41 on Monday. Brown & Brown, Inc. has a fifty-two week low of $66.53 and a fifty-two week high of $93.75. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.97 and a current ratio of 1.97. The company has a 50 day moving average price of $88.01 and a 200 day moving average price of $82.52. The stock has a market capitalization of $25.50 billion, a P/E ratio of 27.51, a PEG ratio of 2.35 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. Equities research analysts forecast that Brown & Brown, Inc. will post 3.61 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Friday, May 3rd. Brown & Brown’s payout ratio is 16.00%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BRO. Bank of America raised shares of Brown & Brown from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $91.00 to $101.00 in a research note on Wednesday, May 22nd. Citigroup lifted their price objective on Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a report on Tuesday, June 25th. Wells Fargo & Company lifted their price target on Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Brown & Brown from $80.00 to $82.00 and gave the company an “underperform” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Brown & Brown presently has an average rating of “Hold” and a consensus target price of $89.40.

Insider Activity

In other Brown & Brown news, EVP Julie Turpin sold 3,350 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $89.92, for a total transaction of $301,232.00. Following the sale, the executive vice president now directly owns 23,597 shares in the company, valued at approximately $2,121,842.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 16.43% of the company’s stock.

About Brown & Brown

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.