Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Ethic Inc.

Ethic Inc. increased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 15.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,275 shares of the financial services provider’s stock after purchasing an additional 3,848 shares during the quarter. Ethic Inc.’s holdings in Brown & Brown were worth $3,509,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Johnson Financial Group Inc. increased its position in shares of Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 235 shares during the last quarter. Sunbelt Securities Inc. increased its position in shares of Brown & Brown by 581.8% during the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 256 shares during the last quarter. Optimum Investment Advisors acquired a new stake in shares of Brown & Brown during the 1st quarter worth about $31,000. SouthState Corp increased its position in shares of Brown & Brown by 188.6% during the 1st quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 166 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Brown & Brown during the 1st quarter worth about $45,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Bank of America raised Brown & Brown from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $126.00 to $130.00 in a research report on Wednesday, July 30th. Wall Street Zen downgraded Brown & Brown from a “hold” rating to a “sell” rating in a research report on Saturday. Keefe, Bruyette & Woods dropped their target price on Brown & Brown from $104.00 to $87.00 and set an “underperform” rating for the company in a research report on Thursday, July 31st. Raymond James Financial reaffirmed an “outperform” rating and issued a $120.00 target price (down from $125.00) on shares of Brown & Brown in a research report on Monday, August 4th. Finally, Truist Financial set a $120.00 target price on Brown & Brown in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $112.93.

Insider Transactions at Brown & Brown

In other Brown & Brown news, Director Bronislaw Edmund Masojada bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average price of $91.44 per share, for a total transaction of $91,440.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at $457,200. This trade represents a 25.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul J. Krump bought 2,678 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $93.31 per share, with a total value of $249,884.18. Following the purchase, the director owned 5,353 shares of the company’s stock, valued at $499,488.43. The trade was a 100.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 17.02% of the company’s stock.

Brown & Brown Stock Performance

Shares of Brown & Brown stock opened at $95.35 on Friday. Brown & Brown, Inc. has a one year low of $90.38 and a one year high of $125.68. The company has a market cap of $31.45 billion, a PE ratio of 27.48, a P/E/G ratio of 2.17 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.72 and a current ratio of 6.72. The business has a 50-day simple moving average of $103.09 and a 200-day simple moving average of $110.43.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, July 28th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. Brown & Brown had a return on equity of 15.10% and a net margin of 19.89%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the company posted $0.93 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 13th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. Brown & Brown’s payout ratio is currently 17.29%.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.