Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 3.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,601 shares of the financial services provider’s stock after selling 821 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Brown & Brown were worth $2,200,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Crewe Advisors LLC grew its stake in Brown & Brown by 330.4% during the 2nd 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 during the last quarter. Headlands Technologies LLC acquired a new position in Brown & Brown in the 1st quarter worth approximately $32,000. Alaska Permanent Fund Corp purchased a new position in Brown & Brown during the 1st quarter worth approximately $36,000. First PREMIER Bank acquired a new stake in Brown & Brown during the 1st quarter valued at approximately $40,000. Finally, Intelligent Financial Strategies acquired a new stake in shares of Brown & Brown in the first quarter worth $45,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Chairman Hyatt J. Brown sold 134,640 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown 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 transaction, 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. Insiders own 17.02% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods increased their price target 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 assumed coverage on Brown & Brown in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 price objective on the stock. Royal Bank of Canada raised their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. UBS Group boosted 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. Finally, StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $100.00.

Brown & Brown Stock Up 1.2 %

Shares of NYSE BRO opened at $102.21 on Tuesday. The firm has a market cap of $29.16 billion, a price-to-earnings ratio of 31.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.83. The company’s 50-day simple moving average is $100.88 and its 200-day simple moving average is $92.04. 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 52-week low of $66.73 and a 52-week high of $106.02.

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

Brown & Brown Dividend Announcement

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

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.