Copperwynd Financial LLC Boosts Stock Holdings in Brown & Brown, Inc. $BRO

Copperwynd Financial LLC lifted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,394 shares of the financial services provider’s stock after acquiring an additional 136 shares during the quarter. Copperwynd Financial LLC’s holdings in Brown & Brown were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of BRO. GW&K Investment Management LLC boosted its stake in Brown & Brown by 104.4% in the first quarter. GW&K Investment Management LLC now owns 419 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 214 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Brown & Brown by 7.1% during the first quarter. Fifth Third Bancorp now owns 6,807 shares of the financial services provider’s stock worth $847,000 after buying an additional 450 shares during the period. Tandem Investment Advisors Inc. boosted its stake in shares of Brown & Brown by 2.5% during the first quarter. Tandem Investment Advisors Inc. now owns 764,709 shares of the financial services provider’s stock worth $95,130,000 after buying an additional 18,677 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Brown & Brown during the first quarter worth about $3,043,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Brown & Brown by 22.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,603 shares of the financial services provider’s stock worth $2,314,000 after buying an additional 3,351 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Transactions at Brown & Brown

In related news, Director Bronislaw Edmund Masojada bought 1,000 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was bought at an average cost of $91.44 per share, with a total value of $91,440.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at approximately $457,200. This represents a 25.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul J. Krump bought 2,678 shares of the company’s stock in a transaction on Friday, August 8th. The stock was bought at an average cost of $93.31 per share, with a total value of $249,884.18. Following the completion of the acquisition, the director owned 5,353 shares of the company’s stock, valued at $499,488.43. This represents a 100.11% increase in their position. The disclosure for this purchase can be found here. Company insiders own 17.02% of the company’s stock.

Brown & Brown Trading Up 0.4%

NYSE BRO opened at $95.94 on Thursday. The stock has a market capitalization of $31.65 billion, a P/E ratio of 27.65, a P/E/G ratio of 2.16 and a beta of 0.79. Brown & Brown, Inc. has a 52-week low of $89.99 and a 52-week high of $125.68. The firm has a 50-day moving average price of $94.18 and a 200 day moving average price of $105.36. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 0.64.

Brown & Brown (NYSE:BRO) last posted 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. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company posted $0.93 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently announced 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 of this dividend was Wednesday, August 13th. This represents a $0.60 dividend on an annualized basis and a yield of 0.6%. Brown & Brown’s dividend payout ratio (DPR) is 17.29%.

Analyst Ratings Changes

BRO has been the subject of several recent research reports. Morgan Stanley decreased their target price on shares of Brown & Brown from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday. Citigroup initiated coverage on shares of Brown & Brown in a research note on Wednesday, August 13th. They set a “buy” rating and a $112.00 target price for the company. BMO Capital Markets decreased their target price on shares of Brown & Brown from $122.00 to $106.00 and set an “outperform” rating for the company in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods decreased their target price on shares of Brown & Brown from $104.00 to $87.00 and set an “underperform” rating for the company in a research note on Thursday, July 31st. Finally, Wells Fargo & Company decreased their target price on shares of Brown & Brown from $101.00 to $98.00 and set an “equal weight” rating for the company in a research note on Wednesday. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $109.92.

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.