Ameritas Investment Partners Inc. Grows Holdings in Brown & Brown, Inc. (NYSE:BRO)

Ameritas Investment Partners Inc. raised its position in Brown & Brown, Inc. (NYSE:BRO) by 76.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,811 shares of the financial services provider’s stock after buying an additional 8,986 shares during the period. Ameritas Investment Partners Inc.’s holdings in Brown & Brown were worth $1,861,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its holdings in Brown & Brown by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock worth $1,819,000 after acquiring an additional 100 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Brown & Brown by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 25,633 shares of the financial services provider’s stock worth $2,243,000 after buying an additional 125 shares during the last quarter. Studio Investment Management LLC boosted its holdings in shares of Brown & Brown by 2.1% in the 2nd quarter. Studio Investment Management LLC now owns 6,417 shares of the financial services provider’s stock worth $574,000 after buying an additional 130 shares during the last quarter. Simplicity Wealth LLC grew its position in Brown & Brown by 5.6% during the second quarter. Simplicity Wealth LLC now owns 2,505 shares of the financial services provider’s stock valued at $224,000 after buying an additional 132 shares during the period. Finally, Sequoia Financial Advisors LLC increased its holdings in Brown & Brown by 2.4% during the second quarter. Sequoia Financial Advisors LLC now owns 6,856 shares of the financial services provider’s stock worth $613,000 after buying an additional 163 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Down 0.4 %

Shares of NYSE:BRO opened at $101.01 on Monday. The company has a market cap of $28.81 billion, a price-to-earnings ratio of 31.08, a PEG ratio of 2.42 and a beta of 0.83. Brown & Brown, Inc. has a one year low of $66.73 and a one year high of $106.02. The firm has a fifty day moving average price of $100.70 and a two-hundred day moving average price of $91.93. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35.

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

Brown & Brown Announces Dividend

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

Wall Street Analyst Weigh In

BRO has been the subject of a number of research reports. Royal Bank of Canada increased their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Truist Financial increased their price objective on Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Raymond James upped their price target on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. UBS Group lifted their price objective on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Finally, Barclays initiated coverage on shares of Brown & Brown in a report on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.00.

Insiders Place Their Bets

In other news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction on 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, 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 transaction of $14,071,226.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. The disclosure for this sale can be found here. Corporate insiders own 17.02% of the company’s stock.

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.