GAMMA Investing LLC Acquires 1,522 Shares of Brown & Brown, Inc. (NYSE:BRO)

GAMMA Investing LLC raised its holdings in Brown & Brown, Inc. (NYSE:BRO) by 26.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,298 shares of the financial services provider’s stock after acquiring an additional 1,522 shares during the quarter. GAMMA Investing LLC’s holdings in Brown & Brown were worth $756,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crewe Advisors LLC boosted its position in shares of Brown & Brown by 330.4% during the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 228 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Brown & Brown during the first quarter worth $32,000. Alaska Permanent Fund Corp bought a new position in shares of Brown & Brown during the first quarter worth $36,000. First PREMIER Bank bought a new position in shares of Brown & Brown during the first quarter worth $40,000. Finally, Intelligent Financial Strategies bought a new position in shares of Brown & Brown during the first quarter worth $45,000. 71.01% of the stock is owned by institutional investors.

Insider Transactions at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO R. Andrew Watts sold 2,500 shares of the business’s 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 transaction, the chief financial officer now owns 88,445 shares in the company, valued at $8,872,802.40. This represents 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 owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Company raised shares of Brown & Brown from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $94.00 to $112.00 in a research report on Monday, August 12th. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Finally, Truist Financial boosted their price objective on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.67.

Brown & Brown Stock Up 3.1 %

Shares of BRO stock opened at $105.25 on Wednesday. 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 1 year low of $66.73 and a 1 year high of $106.02. The firm’s fifty day moving average price is $102.63 and its two-hundred day moving average price is $93.47. The firm has a market capitalization of $30.02 billion, a P/E ratio of 32.38, a PEG ratio of 2.44 and a beta of 0.83.

Brown & Brown (NYSE:BRO) last issued 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. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business earned $0.68 EPS. The company’s revenue was up 12.5% compared to the same quarter last year. On average, equities analysts predict that Brown & Brown, Inc. will post 3.68 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.13 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.52 annualized dividend and a dividend yield of 0.49%. Brown & Brown’s dividend payout ratio is presently 16.00%.

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.