Benjamin Edwards Inc. Has $119,000 Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Benjamin Edwards Inc. cut its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 24.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,326 shares of the financial services provider’s stock after selling 423 shares during the quarter. Benjamin Edwards Inc.’s holdings in Brown & Brown were worth $119,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BRO. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Brown & Brown by 1.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 98,821 shares of the financial services provider’s stock worth $8,835,000 after purchasing an additional 1,584 shares during the period. Trust Investment Advisors acquired a new stake in shares of Brown & Brown during the 2nd quarter valued at $208,000. Intech Investment Management LLC grew its holdings in shares of Brown & Brown by 0.7% during the 2nd quarter. Intech Investment Management LLC now owns 435,392 shares of the financial services provider’s stock valued at $38,928,000 after acquiring an additional 3,172 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Brown & Brown in the second quarter worth $1,037,000. Finally, Seven Eight Capital LP purchased a new stake in shares of Brown & Brown during the second quarter worth $238,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on BRO shares. Royal Bank of Canada boosted their target price on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Raymond James raised their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Barclays started 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. Citigroup increased their price target on shares of Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Insider Buying and Selling at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO R. Andrew Watts sold 2,500 shares of the firm’s stock in a transaction 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 document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction on 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. Insiders own 17.02% of the company’s stock.

Brown & Brown Stock Down 0.4 %

Brown & Brown stock opened at $101.01 on Friday. 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, Inc. has a fifty-two week low of $66.73 and a fifty-two week high of $106.02. The firm has a fifty day moving average price of $100.70 and a two-hundred day moving average price of $91.88. The firm has a market cap of $28.81 billion, a price-to-earnings ratio of 31.08, a P/E/G ratio of 2.42 and a beta of 0.83.

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, analysts forecast that Brown & Brown, Inc. will post 3.68 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Wednesday, August 7th. Brown & Brown’s dividend payout ratio (DPR) is currently 16.00%.

Brown & Brown Company 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.