Copperwynd Financial LLC Has $248,000 Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Copperwynd Financial LLC lifted its position in Brown & Brown, Inc. (NYSE:BRO) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,772 shares of the financial services provider’s stock after buying an additional 126 shares during the quarter. Copperwynd Financial LLC’s holdings in Brown & Brown were worth $248,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BRO. Congress Asset Management Co. MA acquired a new position in shares of Brown & Brown during the 4th quarter worth $82,445,000. Royal London Asset Management Ltd. grew its position in Brown & Brown by 105.1% in the 2nd quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock worth $184,930,000 after purchasing an additional 1,059,711 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Brown & Brown by 76.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,000,227 shares of the financial services provider’s stock valued at $142,236,000 after purchasing an additional 865,082 shares during the period. Confluence Investment Management LLC purchased a new position in Brown & Brown in the first quarter valued at approximately $49,598,000. Finally, Capital World Investors boosted its position in Brown & Brown by 50.5% during the first quarter. Capital World Investors now owns 1,413,224 shares of the financial services provider’s stock worth $123,714,000 after purchasing an additional 473,982 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 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 $8,872,802.40. The disclosure for this sale can be found here. 17.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BRO shares. Truist Financial upped their target price on Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Raymond James upped their target price on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Argus assumed coverage on shares of Brown & Brown in a research report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 target price on the stock. Royal Bank of Canada boosted their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Barclays began 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 for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $101.67.

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $102.65 on Monday. Brown & Brown, Inc. has a 1 year low of $66.73 and a 1 year 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. The company has a market capitalization of $29.28 billion, a PE ratio of 31.58, a price-to-earnings-growth ratio of 2.40 and a beta of 0.83. The company’s fifty day moving average price is $101.68 and its 200 day moving average price is $92.54.

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

Brown & Brown Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Wednesday, August 7th. 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.