Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC raised its position in Brown & Brown, Inc. (NYSE:BRO) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,556 shares of the financial services provider’s stock after purchasing an additional 484 shares during the quarter. NewEdge Advisors LLC’s holdings in Brown & Brown were worth $1,748,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC grew its stake in shares of Brown & Brown by 330.4% in the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 228 shares in the last quarter. Headlands Technologies LLC purchased a new position in Brown & Brown in the first quarter valued at $32,000. Alaska Permanent Fund Corp acquired a new position in Brown & Brown during the 1st quarter worth $36,000. First PREMIER Bank purchased a new stake in Brown & Brown during the 1st quarter worth about $40,000. Finally, Intelligent Financial Strategies acquired a new stake in Brown & Brown in the 1st quarter valued at about $45,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Argus assumed coverage on shares of Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective on the stock. 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 note on Wednesday, July 24th. UBS Group increased their target price on Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Finally, Truist Financial lifted their price target on Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Brown & Brown has a consensus rating of “Moderate Buy” and a consensus target price of $101.67.

Insider Buying and Selling at Brown & Brown

In other news, CFO R. Andrew Watts sold 2,500 shares of the firm’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 $8,872,802.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 88,445 shares in the company, valued at approximately $8,872,802.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The disclosure for this sale can be found here. 17.02% of the stock is owned by corporate insiders.

Brown & Brown Trading Up 1.0 %

NYSE BRO opened at $105.65 on Friday. Brown & Brown, Inc. has a one year low of $66.73 and a one year high of $106.02. The firm has a market cap of $30.14 billion, a PE ratio of 32.51, a P/E/G ratio of 2.38 and a beta of 0.83. The firm’s fifty day moving average is $102.45 and its two-hundred day moving average is $93.18. 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 posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm posted $0.68 EPS. Brown & Brown’s quarterly revenue was up 12.5% on a year-over-year basis. Analysts expect that Brown & Brown, Inc. will post 3.68 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.52 dividend on an annualized basis and a yield of 0.49%. Brown & Brown’s payout ratio 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.