Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Procyon Advisors LLC

Procyon Advisors LLC raised its stake in Brown & Brown, Inc. (NYSE:BRO) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,404 shares of the financial services provider’s stock after buying an additional 632 shares during the quarter. Procyon Advisors LLC’s holdings in Brown & Brown were worth $2,911,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Bleakley Financial Group LLC increased its stake in shares of Brown & Brown by 3.4% during the fourth quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock worth $323,000 after buying an additional 103 shares during the period. Lido Advisors LLC increased its stake in shares of Brown & Brown by 2.6% during the fourth quarter. Lido Advisors LLC now owns 4,690 shares of the financial services provider’s stock worth $479,000 after buying an additional 120 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Brown & Brown by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,379 shares of the financial services provider’s stock valued at $2,079,000 after purchasing an additional 130 shares during the last quarter. Frank Rimerman Advisors LLC increased its stake in Brown & Brown by 4.6% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,265 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 143 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its stake in Brown & Brown by 0.5% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 30,720 shares of the financial services provider’s stock valued at $3,161,000 after purchasing an additional 144 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $110.65 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a fifty day moving average price of $113.53 and a 200 day moving average price of $111.26. Brown & Brown, Inc. has a 1-year low of $88.31 and a 1-year high of $125.68. The company has a market cap of $31.71 billion, a PE ratio of 31.98, a P/E/G ratio of 2.93 and a beta of 0.84.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the business earned $1.14 earnings per share. Brown & Brown’s revenue for the quarter was up 11.6% compared to the same quarter last year. Sell-side analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Monday, May 12th. Brown & Brown’s dividend payout ratio is presently 16.71%.

Analyst Upgrades and Downgrades

BRO has been the topic of several recent analyst reports. UBS Group increased their price target on shares of Brown & Brown from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, April 9th. Edward Jones initiated coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They issued a “buy” rating on the stock. Truist Financial dropped their price target on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group increased their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Brown & Brown from $102.00 to $100.00 and set an “underperform” rating on the stock in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $118.25.

Brown & Brown 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.