Lynwood Price Capital Management LP Takes $3.64 Million Position in Brown & Brown, Inc. $BRO

Lynwood Price Capital Management LP purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,800 shares of the financial services provider’s stock, valued at approximately $3,637,000. Brown & Brown makes up approximately 1.8% of Lynwood Price Capital Management LP’s holdings, making the stock its 14th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Trust Co. NA boosted its holdings in Brown & Brown by 4.3% during the 1st quarter. Private Trust Co. NA now owns 3,595 shares of the financial services provider’s stock worth $447,000 after acquiring an additional 147 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Brown & Brown by 16.2% during the first quarter. First Horizon Advisors Inc. now owns 1,535 shares of the financial services provider’s stock valued at $191,000 after purchasing an additional 214 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of Brown & Brown by 19.1% during the first quarter. Mutual Advisors LLC now owns 4,190 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 673 shares in the last quarter. Silver Oak Securities Incorporated purchased a new position in Brown & Brown during the first quarter worth about $646,000. Finally, IFM Investors Pty Ltd grew its position in Brown & Brown by 16.2% in the 1st quarter. IFM Investors Pty Ltd now owns 53,693 shares of the financial services provider’s stock worth $6,679,000 after purchasing an additional 7,472 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Price Performance

BRO stock opened at $79.81 on Monday. Brown & Brown, Inc. has a 52 week low of $79.30 and a 52 week high of $125.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.72 and a current ratio of 2.10. The firm’s fifty day moving average is $92.16 and its 200 day moving average is $101.35. The firm has a market cap of $27.25 billion, a P/E ratio of 23.90, a P/E/G ratio of 1.70 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.15. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The company 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 business posted $0.91 EPS. Brown & Brown’s quarterly revenue was up 35.4% compared to the same quarter last year. Research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th will be issued a dividend of $0.165 per share. The ex-dividend date is Wednesday, November 5th. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s dividend payout ratio (DPR) is presently 19.76%.

Wall Street Analyst Weigh In

BRO has been the subject of several research reports. Keefe, Bruyette & Woods reduced their price target on shares of Brown & Brown from $104.00 to $87.00 and set an “underperform” rating for the company in a research report on Thursday, July 31st. Weiss Ratings lowered Brown & Brown from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Bank of America reiterated a “neutral” rating and set a $97.00 price target (down previously from $135.00) on shares of Brown & Brown in a research note on Monday. BMO Capital Markets lowered their price target on shares of Brown & Brown from $122.00 to $106.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 30th. Finally, Barclays lowered their target price on shares of Brown & Brown from $108.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $105.85.

Insider Buying and Selling

In other Brown & Brown news, Director Bronislaw Edmund Masojada purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average price of $91.44 per share, with a total value of $91,440.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $457,200. The trade was a 25.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Paul J. Krump purchased 2,678 shares of Brown & Brown stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $93.31 per share, for a total transaction of $249,884.18. Following the transaction, the director directly owned 5,353 shares of the company’s stock, valued at $499,488.43. This trade represents a 100.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 17.02% of the stock is owned by corporate insiders.

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.