Trust Investment Advisors Invests $208,000 in Brown & Brown, Inc. (NYSE:BRO)

Trust Investment Advisors purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,323 shares of the financial services provider’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its stake in shares of Brown & Brown by 2.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 267,190 shares of the financial services provider’s stock valued at $23,390,000 after buying an additional 6,613 shares during the period. Sei Investments Co. boosted its position in Brown & Brown by 12.7% during the first quarter. Sei Investments Co. now owns 276,090 shares of the financial services provider’s stock valued at $24,169,000 after purchasing an additional 31,071 shares during the last quarter. Great Valley Advisor Group Inc. purchased a new position in Brown & Brown in the second quarter valued at about $1,512,000. DekaBank Deutsche Girozentrale increased its position in Brown & Brown by 12.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider’s stock worth $21,855,000 after purchasing an additional 27,879 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its stake in shares of Brown & Brown by 339.1% during the 4th quarter. Allianz Asset Management GmbH now owns 648,550 shares of the financial services provider’s stock worth $46,118,000 after purchasing an additional 500,847 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BRO has been the subject of several recent research reports. Royal Bank of Canada boosted their price target on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Wells Fargo & Company raised shares of Brown & Brown from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $94.00 to $112.00 in a research report on Monday, August 12th. StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Friday, August 16th. UBS Group upped their price objective on shares of Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Brown & Brown has an average rating of “Moderate Buy” and an average target price of $100.00.

Brown & Brown Stock Down 1.0 %

BRO stock opened at $101.45 on Friday. The stock has a market capitalization of $28.94 billion, a price-to-earnings ratio of 31.22, a price-to-earnings-growth ratio of 2.37 and a beta of 0.83. The company has a 50-day moving average of $100.56 and a two-hundred day moving average of $91.71. Brown & Brown, Inc. has a 52-week low of $66.73 and a 52-week high of $106.02. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35.

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

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were paid a $0.13 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.52 annualized dividend and a dividend yield of 0.51%. Brown & Brown’s payout ratio is 16.00%.

Insider Buying and Selling

In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the completion of the sale, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the transaction, the chief financial officer now owns 88,445 shares in the company, valued at approximately $8,872,802.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Hyatt J. Brown sold 134,640 shares of the stock in a transaction dated Thursday, August 29th. The shares were 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 currently owned by insiders.

Brown & Brown Profile

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.