Quantum Capital Management LLC NJ Has $13.54 Million Stock Position in Brown & Brown, Inc. $BRO

Quantum Capital Management LLC NJ decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,839 shares of the financial services provider’s stock after selling 2,423 shares during the quarter. Brown & Brown makes up about 1.4% of Quantum Capital Management LLC NJ’s holdings, making the stock its 16th biggest position. Quantum Capital Management LLC NJ’s holdings in Brown & Brown were worth $13,540,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Johnson Financial Group Inc. lifted its holdings in Brown & Brown by 534.1% in the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 235 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in Brown & Brown by 581.8% in the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 256 shares during the last quarter. Optimum Investment Advisors acquired a new stake in Brown & Brown in the 1st quarter worth approximately $31,000. SouthState Corp lifted its holdings in Brown & Brown by 188.6% in the 1st quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 166 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in Brown & Brown in the 1st quarter worth approximately $45,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

BRO has been the subject of several analyst reports. Bank of America upgraded Brown & Brown from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $126.00 to $130.00 in a report on Wednesday, July 30th. The Goldman Sachs Group downgraded Brown & Brown from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $126.00 to $119.00 in a research report on Tuesday, May 13th. BMO Capital Markets dropped their price target on Brown & Brown from $122.00 to $106.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 30th. Morgan Stanley dropped their price target on Brown & Brown from $109.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Keefe, Bruyette & Woods dropped their price target on Brown & Brown from $104.00 to $87.00 and set an “underperform” rating on the stock in a research report on Thursday, July 31st. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.64.

Insider Transactions at Brown & Brown

In related news, Director Paul J. Krump acquired 2,678 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $93.31 per share, with a total value of $249,884.18. Following the acquisition, the director directly owned 5,353 shares in the company, valued at $499,488.43. The trade was a 100.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Bronislaw Edmund Masojada acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, August 6th. The shares were bought at an average cost of $91.44 per share, for a total transaction of $91,440.00. Following the acquisition, the director owned 5,000 shares in the company, valued at approximately $457,200. The trade was a 25.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.59% of the stock is owned by corporate insiders.

Brown & Brown Price Performance

Brown & Brown stock opened at $96.8360 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 6.72 and a quick ratio of 6.72. The company has a market capitalization of $31.94 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 2.16 and a beta of 0.78. Brown & Brown, Inc. has a one year low of $90.38 and a one year high of $125.68. The business has a 50 day simple moving average of $102.66 and a 200 day simple moving average of $110.30.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, July 28th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Brown & Brown had a return on equity of 15.10% and a net margin of 19.89%.Brown & Brown’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company earned $0.93 EPS. On average, sell-side analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $0.60 dividend on an annualized basis and a yield of 0.6%. Brown & Brown’s dividend payout ratio is currently 17.29%.

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.