Anchor Investment Management LLC Has $294,000 Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Anchor Investment Management LLC boosted its position in Brown & Brown, Inc. (NYSE:BRO) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,286 shares of the financial services provider’s stock after buying an additional 125 shares during the quarter. Anchor Investment Management LLC’s holdings in Brown & Brown were worth $294,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of BRO. Congress Asset Management Co. MA acquired a new stake in Brown & Brown in the 4th quarter valued at approximately $82,445,000. Royal London Asset Management Ltd. raised its position in Brown & Brown by 105.1% in the 2nd 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 buying an additional 1,059,711 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Brown & Brown by 24.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock valued at $311,979,000 after buying an additional 687,783 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in Brown & Brown in the 1st quarter valued at approximately $49,598,000. Finally, Capital World Investors raised its position in Brown & Brown by 50.5% in the 1st quarter. Capital World Investors now owns 1,413,224 shares of the financial services provider’s stock valued at $123,714,000 after buying an additional 473,982 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on BRO shares. Keefe, Bruyette & Woods boosted 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. Argus started coverage on Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target on the stock. Truist Financial boosted their price target on Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Barclays started coverage on Brown & Brown in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 price target on the stock. Finally, UBS Group boosted their price target on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.67.

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $105.65 on Friday. The company has a current ratio of 2.35, a quick 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 stock has a 50 day moving average of $102.45 and a 200-day moving average of $93.12. The company has a market capitalization of $30.14 billion, a P/E ratio of 32.51, a P/E/G ratio of 2.38 and a beta of 0.83.

Brown & Brown (NYSE:BRO) last released its quarterly 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. The business 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 quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS. As a group, equities research analysts predict that Brown & Brown, Inc. will post 3.68 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors 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 yield of 0.49%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Insider Activity at Brown & Brown

In related news, CFO R. Andrew Watts sold 2,500 shares of the business’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 sale, the chief financial officer now directly owns 88,445 shares in the company, valued at $8,872,802.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO R. Andrew Watts sold 2,500 shares of the company’s 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 sale, the chief financial officer now owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.02% of the stock is currently owned by corporate insiders.

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.