Brown & Brown, Inc. (NYSE:BRO) Holdings Lifted by AE Wealth Management LLC

AE Wealth Management LLC boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 573.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,272 shares of the financial services provider’s stock after buying an additional 18,966 shares during the period. AE Wealth Management LLC’s holdings in Brown & Brown were worth $1,991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of BRO. Crewe Advisors LLC increased its holdings in shares of Brown & Brown by 330.4% in the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 228 shares during the period. Headlands Technologies LLC purchased a new stake in Brown & Brown in the 1st quarter worth approximately $32,000. Alaska Permanent Fund Corp acquired a new stake in shares of Brown & Brown during the 1st quarter valued at $36,000. First PREMIER Bank purchased a new position in shares of Brown & Brown during the 1st quarter valued at $40,000. Finally, Intelligent Financial Strategies acquired a new position in shares of Brown & Brown in the first quarter worth $45,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on BRO shares. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. UBS Group boosted their price target on Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Wells Fargo & Company raised shares of Brown & Brown from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $94.00 to $112.00 in a research report on Monday, August 12th. Citigroup boosted their target price on shares of Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Truist Financial increased their price target on shares of Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Brown & Brown currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Insider Activity 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 filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Hyatt J. Brown sold 134,640 shares of the stock in a transaction dated 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 this hyperlink. Also, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value 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. The disclosure for this sale can be found here. Corporate insiders own 17.02% of the company’s stock.

Brown & Brown Stock Up 1.2 %

Brown & Brown stock opened at $102.21 on Tuesday. 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, Inc. has a fifty-two week low of $66.73 and a fifty-two week high of $106.02. The firm has a fifty day moving average price of $100.88 and a two-hundred day moving average price of $92.04. The firm has a market cap of $29.16 billion, a price-to-earnings ratio of 31.45, a P/E/G ratio of 2.42 and a beta of 0.83.

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, beating the consensus estimate of $0.88 by $0.05. The firm 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 revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 EPS. As a group, analysts forecast that Brown & Brown, Inc. will post 3.68 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were given a dividend of $0.13 per share. 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 currently 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.