Pure Financial Advisors LLC Makes New Investment in Brown & Brown, Inc. $BRO

Pure Financial Advisors LLC acquired a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,796 shares of the financial services provider’s stock, valued at approximately $564,000.

Several other large investors have also made changes to their positions in the business. Union Bancaire Privee UBP SA purchased a new position in shares of Brown & Brown during the first quarter worth $25,000. Basepoint Wealth LLC purchased a new stake in Brown & Brown in the fourth quarter valued at $27,000. Darwin Wealth Management LLC purchased a new stake in Brown & Brown in the second quarter valued at $30,000. DV Equities LLC acquired a new stake in Brown & Brown during the 4th quarter worth about $33,000. Finally, Allied Private Wealth LLC purchased a new stake in shares of Brown & Brown in the second quarter worth about $35,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Stock Performance

Shares of NYSE:BRO opened at $71.35 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11. The business’s 50 day moving average price is $68.77 and its 200-day moving average price is $65.75. The firm has a market capitalization of $23.88 billion, a PE ratio of 22.51, a P/E/G ratio of 3.63 and a beta of 0.59. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $97.49.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%.The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. As a group, equities research analysts expect that Brown & Brown, Inc. will post 4.5 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 12th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 12th. Brown & Brown’s dividend payout ratio (DPR) is 20.82%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Brown & Brown in a report on Wednesday, July 29th. Barclays upped their price objective on Brown & Brown from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Jefferies Financial Group restated a “hold” rating on shares of Brown & Brown in a research report on Wednesday, July 29th. BMO Capital Markets raised their price objective on Brown & Brown from $73.00 to $74.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Finally, Truist Financial set a $90.00 target price on shares of Brown & Brown in a research note on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $76.80.

Brown & Brown Company Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.