Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Studio Investment Management LLC

Studio Investment Management LLC boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,513 shares of the financial services provider’s stock after purchasing an additional 96 shares during the period. Studio Investment Management LLC’s holdings in Brown & Brown were worth $675,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BRO. Oregon Public Employees Retirement Fund increased its holdings in shares of Brown & Brown by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock valued at $1,819,000 after buying an additional 100 shares in the last quarter. Trust Point Inc. raised its position in shares of Brown & Brown by 4.3% during the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 103 shares during the period. Creative Planning lifted its holdings in shares of Brown & Brown by 0.4% during the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after purchasing an additional 112 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Brown & Brown by 0.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider’s stock valued at $2,375,000 after purchasing an additional 113 shares during the period. Finally, Anchor Investment Management LLC increased its stake in Brown & Brown by 4.0% in the 2nd quarter. Anchor Investment Management LLC now owns 3,286 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 125 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 17.02% of the company’s stock.

Brown & Brown Stock Up 1.2 %

BRO opened at $110.95 on Friday. The company has a market capitalization of $31.73 billion, a PE ratio of 30.23, a price-to-earnings-growth ratio of 2.52 and a beta of 0.82. The business has a 50-day moving average of $105.80 and a 200-day moving average of $98.54. Brown & Brown, Inc. has a fifty-two week low of $69.13 and a fifty-two week high of $114.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 earnings per share. Equities research analysts forecast that Brown & Brown, Inc. will post 3.74 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a $0.15 dividend. 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 dividend on an annualized basis and a yield of 0.54%. Brown & Brown’s dividend payout ratio is currently 16.35%.

Wall Street Analyst Weigh In

Several brokerages have commented on BRO. Keefe, Bruyette & Woods raised their target price on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Jefferies Financial Group lifted their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Barclays increased their target price on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday. Raymond James lifted their price target on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Argus began coverage on Brown & Brown in a research note on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $107.42.

Brown & Brown 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.