Brown & Brown, Inc. (NYSE:BRO) Holdings Increased by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC increased its stake in Brown & Brown, Inc. (NYSE:BRO) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,324 shares of the financial services provider’s stock after acquiring an additional 5,709 shares during the period. Brown & Brown makes up approximately 1.1% of WealthPlan Investment Management LLC’s investment portfolio, making the stock its 22nd biggest position. WealthPlan Investment Management LLC’s holdings in Brown & Brown were worth $11,326,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BRO. Vanguard Group Inc. lifted its holdings in Brown & Brown by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 28,355,305 shares of the financial services provider’s stock valued at $2,482,223,000 after acquiring an additional 203,105 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Brown & Brown by 0.7% in the 2nd quarter. Principal Financial Group Inc. now owns 12,804,979 shares of the financial services provider’s stock worth $1,144,893,000 after purchasing an additional 86,824 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Brown & Brown by 0.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider’s stock valued at $405,638,000 after purchasing an additional 28,180 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Brown & Brown by 24.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock worth $311,979,000 after buying an additional 687,783 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its stake in shares of Brown & Brown by 105.1% during the 2nd quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock worth $184,930,000 after acquiring an additional 1,059,711 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

BRO has been the subject of a number of analyst reports. Jefferies Financial Group upped their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Bank of America lifted 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. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Raymond James raised their target price on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Argus began coverage on Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and a consensus price target of $106.50.

Insider Buying and Selling at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the company’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 filing with the SEC, which is accessible through the SEC website. Company insiders own 17.02% of the company’s stock.

Brown & Brown Stock Down 0.5 %

BRO stock opened at $111.85 on Tuesday. The business’s 50-day simple moving average is $104.89 and its 200 day simple moving average is $97.27. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. The company has a market cap of $31.98 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 2.59 and a beta of 0.82. Brown & Brown, Inc. has a twelve month low of $69.13 and a twelve month high of $114.08.

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

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, November 6th. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. Brown & Brown’s dividend payout ratio is presently 16.35%.

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.