2,667 Shares in Brown & Brown, Inc. (NYSE:BRO) Acquired by Seven Eight Capital LP

Seven Eight Capital LP bought a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,667 shares of the financial services provider’s stock, valued at approximately $238,000.

Several other hedge funds have also made changes to their positions in BRO. Vanguard Group Inc. raised its holdings in shares of Brown & Brown by 0.7% in the first quarter. Vanguard Group Inc. now owns 28,355,305 shares of the financial services provider’s stock valued at $2,482,223,000 after acquiring an additional 203,105 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Brown & Brown by 0.7% in the 2nd quarter. Principal Financial Group Inc. now owns 12,804,979 shares of the financial services provider’s stock worth $1,144,893,000 after purchasing an additional 86,824 shares during the period. Royal London Asset Management Ltd. boosted its stake in shares of Brown & Brown by 105.1% during the second quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock valued at $184,930,000 after purchasing an additional 1,059,711 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Brown & Brown by 76.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,000,227 shares of the financial services provider’s stock valued at $142,236,000 after buying an additional 865,082 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Brown & Brown by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,553,396 shares of the financial services provider’s stock worth $138,899,000 after buying an additional 114,688 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Brown & Brown

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

Brown & Brown Stock Up 1.2 %

Brown & Brown stock opened at $102.21 on Tuesday. The business’s 50-day simple moving average is $100.88 and its two-hundred day simple moving average is $92.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. The company has a market cap of $29.16 billion, a PE ratio of 31.45, a PEG ratio of 2.42 and a beta of 0.83. Brown & Brown, Inc. has a fifty-two week low of $66.73 and a fifty-two week high of $106.02.

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

Brown & Brown Announces Dividend

The firm 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. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.52 annualized dividend and a dividend yield of 0.51%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Barclays assumed coverage on Brown & Brown in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 price target on the stock. Keefe, Bruyette & Woods boosted their target price 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. StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Citigroup boosted their price objective 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, UBS Group raised their target price on shares of Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Brown & Brown currently has an average rating of “Moderate Buy” and an average price target of $100.00.

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.