Wealthfront Advisers LLC Has $1.71 Million Stake in Brown & Brown, Inc. $BRO

Wealthfront Advisers LLC grew its holdings in Brown & Brown, Inc. (NYSE:BRO) by 16.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,389 shares of the financial services provider’s stock after purchasing an additional 2,200 shares during the quarter. Wealthfront Advisers LLC’s holdings in Brown & Brown were worth $1,706,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in BRO. Bares Capital Management Inc. bought a new stake in Brown & Brown during the 1st quarter valued at approximately $26,000. ST Germain D J Co. Inc. increased its position in Brown & Brown by 298.5% in the 2nd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $30,000 after buying an additional 200 shares during the period. Optimum Investment Advisors acquired a new position in shares of Brown & Brown during the first quarter worth approximately $31,000. SouthState Corp lifted its holdings in shares of Brown & Brown by 188.6% during the first quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock worth $32,000 after buying an additional 166 shares during the last quarter. Finally, Bruce G. Allen Investments LLC boosted its position in shares of Brown & Brown by 1,129.6% in the second quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 305 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Brown & Brown

In other news, Director Bronislaw Edmund Masojada bought 1,000 shares of Brown & Brown stock in a transaction dated Wednesday, August 6th. The shares were bought at an average price of $91.44 per share, for a total transaction of $91,440.00. Following the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately $457,200. This trade represents a 25.00% increase in their ownership of the stock. The purchase 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 business’s stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $93.31 per share, with a total value of $249,884.18. Following the purchase, the director directly owned 5,353 shares of the company’s stock, valued at $499,488.43. The trade was a 100.11% increase in their position. The SEC filing for this purchase provides additional information. 17.02% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BRO. Barclays lowered their price objective on shares of Brown & Brown from $108.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. BMO Capital Markets reduced their price target on shares of Brown & Brown from $122.00 to $106.00 and set an “outperform” rating for the company in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Raymond James Financial reaffirmed an “outperform” rating and set a $120.00 price objective (down previously from $125.00) on shares of Brown & Brown in a research report on Monday, August 4th. Finally, UBS Group decreased their target price on Brown & Brown from $120.00 to $106.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $108.38.

Brown & Brown Stock Up 0.2%

Shares of BRO opened at $80.46 on Friday. The stock has a market cap of $27.47 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 1.70 and a beta of 0.79. The company has a quick ratio of 6.72, a current ratio of 2.10 and a debt-to-equity ratio of 0.62. Brown & Brown, Inc. has a 12 month low of $79.68 and a 12 month high of $125.68. The company has a 50-day moving average price of $92.50 and a two-hundred day moving average price of $101.88.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the firm posted $0.91 EPS. Brown & Brown’s quarterly revenue was up 35.4% compared to the same quarter last year. Equities analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, November 5th. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s dividend payout ratio is presently 17.96%.

Brown & Brown 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.