Insight Wealth Strategies LLC Sells 894 Shares of Brown & Brown, Inc. (NYSE:BRO)

Insight Wealth Strategies LLC trimmed its stake in Brown & Brown, Inc. (NYSE:BRO) by 3.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,999 shares of the financial services provider’s stock after selling 894 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Brown & Brown were worth $2,797,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in 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 worth $2,482,223,000 after acquiring an additional 203,105 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Brown & Brown by 0.7% in the second quarter. Principal Financial Group Inc. now owns 12,804,979 shares of the financial services provider’s stock worth $1,144,893,000 after acquiring an additional 86,824 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Brown & Brown by 24.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock worth $311,979,000 after acquiring an additional 687,783 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in Brown & Brown by 105.1% in the second quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock worth $184,930,000 after acquiring an additional 1,059,711 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings 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 acquiring an additional 114,688 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Brown & Brown Stock Performance

BRO stock traded up $2.86 during trading on Tuesday, reaching $104.99. The stock had a trading volume of 103,623 shares, compared to its average volume of 1,299,722. Brown & Brown, Inc. has a 52 week low of $66.73 and a 52 week high of $106.02. The stock’s 50 day moving average is $102.52 and its two-hundred day moving average is $93.34. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56. The firm has a market cap of $29.95 billion, a PE ratio of 31.42, a PEG ratio of 2.44 and a beta of 0.83.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, topping 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 firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the company earned $0.68 earnings per share. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, equities analysts anticipate that Brown & Brown, Inc. will post 3.68 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Wednesday, August 7th. Brown & Brown’s dividend payout ratio (DPR) is currently 16.00%.

Insider Transactions at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’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 filing with the SEC, which is available at the SEC website. In related news, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.32, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $14,071,226.40. The disclosure for this sale can be found here. Corporate insiders own 17.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BRO shares. Argus started coverage on Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 target price on the stock. Keefe, Bruyette & Woods increased their price objective on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. 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 objective on the stock. Raymond James increased their price objective on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company raised Brown & Brown from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $94.00 to $112.00 in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Brown & Brown has an average rating of “Moderate Buy” and a consensus price target of $101.67.

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.