Dimensional Fund Advisors LP Purchases 114,688 Shares of Brown & Brown, Inc. (NYSE:BRO)

Dimensional Fund Advisors LP raised its position in Brown & Brown, Inc. (NYSE:BRO) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,553,396 shares of the financial services provider’s stock after purchasing an additional 114,688 shares during the quarter. Dimensional Fund Advisors LP owned 0.54% of Brown & Brown worth $138,899,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BRO. Gilbert & Cook Inc. raised its position in Brown & Brown by 6.3% in the fourth quarter. Gilbert & Cook Inc. now owns 10,889 shares of the financial services provider’s stock valued at $774,000 after purchasing an additional 646 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Brown & Brown during the fourth quarter worth about $280,000. Robeco Institutional Asset Management B.V. raised its position in shares of Brown & Brown by 24.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 496,310 shares of the financial services provider’s stock worth $353,000 after acquiring an additional 98,547 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Brown & Brown by 22.1% during the fourth quarter. Brown Advisory Inc. now owns 5,199 shares of the financial services provider’s stock worth $370,000 after acquiring an additional 942 shares during the last quarter. Finally, UBS Group AG raised its position in shares of Brown & Brown by 20.8% during the fourth quarter. UBS Group AG now owns 460,797 shares of the financial services provider’s stock worth $32,767,000 after acquiring an additional 79,237 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Insider Activity at Brown & Brown

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

Brown & Brown Stock Down 0.4 %

Shares of NYSE:BRO opened at $101.01 on Friday. The stock has a market cap of $28.81 billion, a price-to-earnings ratio of 31.08, a PEG ratio of 2.42 and a beta of 0.83. The company has a quick ratio of 2.35, a current 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. The business’s 50 day moving average is $100.70 and its 200 day moving average is $91.88.

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

Brown & Brown Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Raymond James raised their price objective on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Truist Financial raised their price objective on Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods raised their price objective on Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Barclays began coverage on Brown & Brown in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 target price for the company. Finally, Royal Bank of Canada lifted their target price on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brown & Brown presently has a consensus rating of “Moderate Buy” and an average price target 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.