Brown & Brown, Inc. $BRO Shares Acquired by Vident Advisory LLC

Vident Advisory LLC lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 93.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,388 shares of the financial services provider’s stock after buying an additional 4,042 shares during the period. Vident Advisory LLC’s holdings in Brown & Brown were worth $1,043,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. increased its holdings in shares of Brown & Brown by 581.8% during the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider’s stock worth $31,000 after buying an additional 256 shares during the last quarter. Optimum Investment Advisors acquired a new stake in shares of Brown & Brown during the 1st quarter worth $31,000. SouthState Corp increased its holdings in shares of Brown & Brown by 188.6% during the 1st quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock worth $32,000 after buying an additional 166 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Brown & Brown during the 1st quarter worth $45,000. Finally, Garde Capital Inc. acquired a new stake in shares of Brown & Brown during the 1st quarter worth $46,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

NYSE:BRO opened at $95.25 on Thursday. 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 firm has a 50-day moving average of $100.07 and a two-hundred day moving average of $109.38. The stock has a market cap of $31.42 billion, a P/E ratio of 27.45, a PEG ratio of 2.21 and a beta of 0.81. Brown & Brown, Inc. has a 1-year low of $90.38 and a 1-year high of $125.68.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 28th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company posted $0.93 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 13th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $0.60 annualized dividend and a dividend yield of 0.6%. Brown & Brown’s dividend payout ratio (DPR) is presently 17.29%.

Insider Activity

In related news, Director Bronislaw Edmund Masojada purchased 1,000 shares of Brown & Brown stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average price of $91.44 per share, with a total value of $91,440.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $457,200. This trade represents a 25.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul J. Krump bought 2,678 shares of the stock in a transaction on Friday, August 8th. The shares were acquired at an average price of $93.31 per share, with a total value of $249,884.18. Following the purchase, the director owned 5,353 shares of the company’s stock, valued at $499,488.43. The trade was a 100.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 15.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Argus reaffirmed a “hold” rating on shares of Brown & Brown in a research report on Thursday, July 31st. Wells Fargo & Company cut shares of Brown & Brown from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $104.00 to $101.00 in a research report on Wednesday, August 13th. Keefe, Bruyette & Woods decreased their price target on shares of Brown & Brown from $104.00 to $87.00 and set an “underperform” rating for the company in a research report on Thursday, July 31st. Barclays decreased their price target on shares of Brown & Brown from $111.00 to $108.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 29th. Finally, The Goldman Sachs Group cut shares of Brown & Brown from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $126.00 to $119.00 in a research report on Tuesday, May 13th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and an average target price of $112.64.

About Brown & Brown

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.