Callan Family Office LLC Increases Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Callan Family Office LLC lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 34.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,112 shares of the financial services provider’s stock after buying an additional 1,557 shares during the quarter. Callan Family Office LLC’s holdings in Brown & Brown were worth $633,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BRO shares. Wells Fargo & Company upgraded shares of Brown & Brown from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $94.00 to $112.00 in a research note on Monday, August 12th. Barclays started coverage on shares of Brown & Brown in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 price target on the stock. UBS Group increased their price target on shares of Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Royal Bank of Canada increased their price target 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, Raymond James increased their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Brown & Brown has an average rating of “Moderate Buy” and a consensus price target of $101.67.

Brown & Brown Price Performance

Shares of Brown & Brown stock opened at $102.13 on Tuesday. The firm has a market cap of $29.13 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 2.44 and a beta of 0.83. Brown & Brown, Inc. has a 12-month low of $66.73 and a 12-month high of $106.02. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $102.52 and its two-hundred day simple moving average is $93.34.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate 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 period last year, the company posted $0.68 EPS. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, equities analysts expect that Brown & Brown, Inc. will post 3.68 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently declared 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 payout ratio is currently 16.00%.

Insider Buying and Selling

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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Brown & Brown 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 legal filing with the SEC, which is available at the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was 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 approximately $8,872,802.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.02% of the stock is owned by insiders.

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.