Revisor Wealth Management LLC Buys 299 Shares of Brown & Brown, Inc. $BRO

Revisor Wealth Management LLC grew its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 7.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 4,507 shares of the financial services provider’s stock after acquiring an additional 299 shares during the quarter. Revisor Wealth Management LLC’s holdings in Brown & Brown were worth $489,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Brown & Brown by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 30,501,119 shares of the financial services provider’s stock worth $3,794,339,000 after buying an additional 560,980 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Brown & Brown by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 12,940,046 shares of the financial services provider’s stock worth $1,609,742,000 after buying an additional 38,078 shares in the last quarter. Parnassus Investments LLC acquired a new position in Brown & Brown in the 1st quarter worth about $899,139,000. Invesco Ltd. increased its holdings in Brown & Brown by 8.3% in the 1st quarter. Invesco Ltd. now owns 4,120,135 shares of the financial services provider’s stock worth $512,545,000 after purchasing an additional 316,519 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in Brown & Brown by 6.3% in the 1st quarter. Royal Bank of Canada now owns 3,063,741 shares of the financial services provider’s stock worth $381,129,000 after purchasing an additional 181,315 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Insider Activity at Brown & Brown

In other news, Director Bronislaw Edmund Masojada purchased 1,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were acquired at an average price of $91.44 per share, for a total transaction of $91,440.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at approximately $457,200. The trade was a 25.00% increase 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, Director Paul J. Krump bought 2,678 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $93.31 per share, for a total transaction of $249,884.18. Following the acquisition, the director directly owned 5,353 shares of the company’s stock, valued at approximately $499,488.43. This represents a 100.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.59% of the stock is currently owned by corporate insiders.

Brown & Brown Stock Up 1.0%

Shares of NYSE:BRO opened at $92.62 on Tuesday. The business’s 50 day simple moving average is $96.10 and its two-hundred day simple moving average is $107.26. The firm has a market cap of $30.55 billion, a P/E ratio of 26.69, a PEG ratio of 2.07 and a beta of 0.80. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.72 and a current ratio of 6.72. Brown & Brown, Inc. has a 52-week low of $89.99 and a 52-week high of $125.68.

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

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 13th were issued a $0.15 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $0.60 annualized dividend and a yield of 0.6%. Brown & Brown’s dividend payout ratio is presently 17.29%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods lowered their target price on Brown & Brown from $104.00 to $87.00 and set an “underperform” rating for the company in a report on Thursday, July 31st. Citigroup assumed coverage on Brown & Brown in a report on Wednesday, August 13th. They issued a “buy” rating and a $112.00 target price for the company. Bank of America raised Brown & Brown from a “neutral” rating to a “buy” rating and upped their target price for the stock from $126.00 to $130.00 in a report on Wednesday, July 30th. Truist Financial set a $120.00 target price on Brown & Brown in a report on Wednesday, July 30th. Finally, Wall Street Zen raised Brown & Brown from a “sell” rating to a “hold” rating in a research note on Saturday. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and an average price target of $112.64.

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.