Brown & Brown, Inc. (NYSE:BRO) Position Increased by Suncoast Equity Management

Suncoast Equity Management raised its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 14.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,375 shares of the financial services provider’s stock after buying an additional 2,365 shares during the period. Suncoast Equity Management’s holdings in Brown & Brown were worth $2,286,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in Brown & Brown during the fourth quarter worth approximately $28,000. Johnson Financial Group Inc. boosted its holdings in Brown & Brown by 534.1% during the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock worth $29,000 after buying an additional 235 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in Brown & Brown by 581.8% during the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider’s stock worth $31,000 after buying an additional 256 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Brown & Brown in the 4th quarter worth approximately $37,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Brown & Brown by 79.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 490 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 217 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Trading Up 0.4%

Shares of NYSE:BRO opened at $108.72 on Friday. The firm has a fifty day moving average of $111.56 and a two-hundred day moving average of $110.92. The firm has a market capitalization of $31.17 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 2.38 and a beta of 0.84. Brown & Brown, Inc. has a 12-month low of $88.31 and a 12-month high of $125.68. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.55.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $1.14 EPS. On average, equities analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown’s payout ratio is presently 16.71%.

Analyst Ratings Changes

A number of research firms recently commented on BRO. Edward Jones began coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They issued a “buy” rating for the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $128.00 price objective on shares of Brown & Brown in a research note on Tuesday, March 25th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $122.00 price objective (up previously from $116.00) on shares of Brown & Brown in a research note on Thursday, June 12th. The Goldman Sachs Group lowered shares of Brown & Brown from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $126.00 to $119.00 in a research note on Tuesday, May 13th. Finally, Barclays raised their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $118.85.

Brown & Brown Company 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.