3,681 Shares in Brown & Brown, Inc. (NYSE:BRO) Bought by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC acquired a new position in Brown & Brown, Inc. (NYSE:BRO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,681 shares of the financial services provider’s stock, valued at approximately $381,000.

Other institutional investors also recently modified their holdings of the company. Great Valley Advisor Group Inc. bought a new stake in shares of Brown & Brown in the second quarter worth $1,512,000. DekaBank Deutsche Girozentrale boosted its position in Brown & Brown by 12.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider’s stock valued at $21,855,000 after acquiring an additional 27,879 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in Brown & Brown by 6.0% during the first quarter. Avantax Advisory Services Inc. now owns 4,174 shares of the financial services provider’s stock valued at $365,000 after acquiring an additional 238 shares during the last quarter. Natixis boosted its position in Brown & Brown by 220.5% during the first quarter. Natixis now owns 62,032 shares of the financial services provider’s stock valued at $5,430,000 after acquiring an additional 42,677 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Brown & Brown by 162.3% during the second quarter. Assenagon Asset Management S.A. now owns 488,483 shares of the financial services provider’s stock valued at $43,675,000 after acquiring an additional 302,240 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on BRO. Bank of America increased their price objective on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Argus began coverage on shares of Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price objective on the stock. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Barclays started coverage on Brown & Brown in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 price objective on the stock. Finally, Raymond James upped their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $106.50.

Brown & Brown Trading Up 0.5 %

Shares of BRO opened at $110.05 on Friday. The business’s 50-day moving average price is $105.38 and its 200-day moving average price is $97.87. Brown & Brown, Inc. has a twelve month low of $69.13 and a twelve month high of $114.08. The stock has a market cap of $31.47 billion, a PE ratio of 29.99, a P/E/G ratio of 2.58 and a beta of 0.82. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities analysts forecast that Brown & Brown, Inc. will post 3.73 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, November 6th. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.55%. Brown & Brown’s dividend payout ratio is currently 16.35%.

Insiders Place Their Bets

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 17.02% of the company’s stock.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.