DekaBank Deutsche Girozentrale Lowers Position in Brown & Brown, Inc. (NYSE:BRO)

DekaBank Deutsche Girozentrale decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 7.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 233,140 shares of the financial services provider’s stock after selling 18,699 shares during the period. DekaBank Deutsche Girozentrale owned 0.08% of Brown & Brown worth $21,005,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Crewe Advisors LLC boosted its position in Brown & Brown by 330.4% during the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 228 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Brown & Brown in the 1st quarter valued at about $32,000. Alaska Permanent Fund Corp purchased a new position in shares of Brown & Brown in the 1st quarter worth approximately $36,000. First PREMIER Bank bought a new position in shares of Brown & Brown during the 1st quarter worth approximately $40,000. Finally, Intelligent Financial Strategies purchased a new stake in Brown & Brown during the first quarter valued at approximately $45,000. Institutional investors own 71.01% of the company’s stock.

Insider Activity at Brown & Brown

In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the completion of the transaction, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at $8,872,802.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the completion of the transaction, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Hyatt J. Brown sold 134,640 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The disclosure for this sale can be found here. 17.02% of the stock is owned by company insiders.

Brown & Brown Stock Performance

BRO opened at $103.13 on Monday. The firm has a 50 day moving average of $99.60 and a two-hundred day moving average of $91.28. The firm has a market capitalization of $29.42 billion, a PE ratio of 31.73, a P/E/G ratio of 2.34 and a beta of 0.83. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12-month low of $66.73 and a 12-month high of $106.02.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.14 billion. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. On average, analysts anticipate that Brown & Brown, Inc. will post 3.68 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, August 7th. Brown & Brown’s dividend payout ratio (DPR) is 16.00%.

Analyst Upgrades and Downgrades

BRO has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Citigroup upped their target price on Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Wells Fargo & Company raised Brown & Brown from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $94.00 to $112.00 in a report on Monday, August 12th. Royal Bank of Canada upped their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Barclays began coverage on shares of Brown & Brown in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.00.

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.