Maseco LLP Takes $109,000 Position in Brown & Brown, Inc. $BRO

Maseco LLP purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 979 shares of the financial services provider’s stock, valued at approximately $109,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Investment Advisors LLC bought a new stake in shares of Brown & Brown in the 1st quarter worth about $1,929,000. GW&K Investment Management LLC increased its holdings in Brown & Brown by 104.4% in the first quarter. GW&K Investment Management LLC now owns 419 shares of the financial services provider’s stock valued at $52,000 after buying an additional 214 shares during the last quarter. Fifth Third Bancorp increased its holdings in Brown & Brown by 7.1% in the first quarter. Fifth Third Bancorp now owns 6,807 shares of the financial services provider’s stock valued at $847,000 after buying an additional 450 shares during the last quarter. Tandem Investment Advisors Inc. raised its stake in Brown & Brown by 2.5% during the first quarter. Tandem Investment Advisors Inc. now owns 764,709 shares of the financial services provider’s stock valued at $95,130,000 after buying an additional 18,677 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in Brown & Brown by 172.5% during the 1st quarter. Handelsbanken Fonder AB now owns 1,314,434 shares of the financial services provider’s stock worth $163,516,000 after buying an additional 832,100 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Stock Up 1.2%

Shares of BRO stock opened at $93.27 on Thursday. Brown & Brown, Inc. has a 1 year low of $89.99 and a 1 year high of $125.68. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.72 and a current ratio of 6.72. The business’s fifty day moving average is $95.59 and its 200-day moving average is $107.06. The stock has a market cap of $30.76 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81.

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

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 13th were paid a $0.15 dividend. 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 payout ratio is currently 17.29%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BRO. Morgan Stanley lowered their price target on Brown & Brown from $109.00 to $105.00 and set an “equal weight” rating for the company in a report on Monday, August 18th. Wall Street Zen upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Raymond James Financial restated an “outperform” rating and issued a $120.00 price target (down from $125.00) on shares of Brown & Brown in a research report on Monday, August 4th. Bank of America raised shares of Brown & Brown from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $126.00 to $130.00 in a research report on Wednesday, July 30th. Finally, Barclays dropped their price objective on shares of Brown & Brown from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 29th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $112.08.

Insider Buying and Selling

In other Brown & Brown news, Director Paul J. Krump purchased 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, for a total transaction of $249,884.18. Following the completion of the transaction, the director owned 5,353 shares in the company, valued at $499,488.43. This represents a 100.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bronislaw Edmund Masojada purchased 1,000 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was bought at an average cost of $91.44 per share, for a total transaction of $91,440.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at $457,200. This represents a 25.00% increase in their position. The disclosure for this purchase can be found here. 17.02% of the stock is owned by insiders.

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.