Benjamin F. Edwards & Company Inc. Has $8.84 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Benjamin F. Edwards & Company Inc. lifted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,821 shares of the financial services provider’s stock after purchasing an additional 1,584 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Brown & Brown were worth $8,835,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Crewe Advisors LLC boosted its position in 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 during the period. Headlands Technologies LLC acquired a new stake in shares of Brown & Brown in the first quarter worth $32,000. Alaska Permanent Fund Corp bought a new stake in shares of Brown & Brown during the 1st quarter worth $36,000. First PREMIER Bank acquired a new position in Brown & Brown in the 1st quarter valued at $40,000. Finally, Intelligent Financial Strategies bought a new position in Brown & Brown in the 1st quarter worth $45,000. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Trading Down 0.4 %

Shares of BRO stock opened at $101.01 on Friday. The firm has a fifty day moving average of $100.70 and a 200-day moving average of $91.83. The stock has a market cap of $28.81 billion, a price-to-earnings ratio of 31.08, a P/E/G ratio of 2.42 and a beta of 0.83. Brown & Brown, Inc. has a 52-week low of $66.73 and a 52-week high of $106.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities research analysts forecast that Brown & Brown, Inc. will post 3.68 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Wednesday, August 7th. Brown & Brown’s dividend payout ratio (DPR) is 16.00%.

Insiders Place Their Bets

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available at this link. In other news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of the 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 sale, the chief financial officer now owns 88,445 shares in the company, valued at $8,872,802.40. The disclosure for this sale can be found here. Corporate insiders own 17.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BRO. Raymond James upped their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. UBS Group lifted 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. Truist Financial increased their price objective on Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their target price 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. Finally, Keefe, Bruyette & Woods upped their target price on shares of Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.00.

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.