Simon Quick Advisors LLC Has $1.12 Million Position in Brown & Brown, Inc. $BRO

Simon Quick Advisors LLC reduced its stake in Brown & Brown, Inc. (NYSE:BRO) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,079 shares of the financial services provider’s stock after selling 489 shares during the period. Simon Quick Advisors LLC’s holdings in Brown & Brown were worth $1,117,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. SBI Securities Co. Ltd. boosted its position in shares of Brown & Brown by 26.8% in the first quarter. SBI Securities Co. Ltd. now owns 454 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 96 shares during the period. Graypoint LLC boosted its position in shares of Brown & Brown by 3.3% in the first quarter. Graypoint LLC now owns 3,208 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 103 shares during the period. NorthRock Partners LLC boosted its position in shares of Brown & Brown by 4.2% in the first quarter. NorthRock Partners LLC now owns 2,530 shares of the financial services provider’s stock valued at $315,000 after acquiring an additional 103 shares during the period. Parallel Advisors LLC boosted its position in shares of Brown & Brown by 4.3% in the second quarter. Parallel Advisors LLC now owns 2,508 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 103 shares during the period. Finally, Covestor Ltd boosted its position in shares of Brown & Brown by 12.6% in the first quarter. Covestor Ltd now owns 937 shares of the financial services provider’s stock valued at $117,000 after acquiring an additional 105 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

BRO has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reduced their target price 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. Argus reissued a “hold” rating on shares of Brown & Brown in a research report on Thursday, July 31st. Raymond James Financial reissued an “outperform” rating and issued a $120.00 target price (down previously from $125.00) on shares of Brown & Brown in a research report on Monday, August 4th. UBS Group cut their price objective on shares of Brown & Brown from $120.00 to $106.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Finally, Truist Financial cut their price objective on shares of Brown & Brown from $120.00 to $114.00 and set a “buy” rating for the company in a research report on Wednesday. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Brown & Brown has a consensus rating of “Hold” and an average price target of $108.38.

Brown & Brown Trading Up 0.2%

BRO opened at $80.46 on Friday. Brown & Brown, Inc. has a twelve month low of $79.68 and a twelve month high of $125.68. The company has a 50-day simple moving average of $92.50 and a 200 day simple moving average of $101.88. The company has a quick ratio of 6.72, a current ratio of 2.10 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $27.47 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 1.70 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The business’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. Analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, November 5th. Brown & Brown’s dividend payout ratio (DPR) is currently 17.96%.

Insider Transactions at Brown & Brown

In related news, Director Paul J. Krump bought 2,678 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $93.31 per share, with a total value of $249,884.18. Following the completion of the acquisition, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bronislaw Edmund Masojada bought 1,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of $91.44 per share, with a total value of $91,440.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $457,200. The trade was a 25.00% increase in their position. The SEC filing for this purchase provides additional information. 17.02% of the stock is currently owned by corporate insiders.

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.