Inceptionr LLC Boosts Stake in Brown & Brown, Inc. $BRO

Inceptionr LLC boosted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 7.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,833 shares of the financial services provider’s stock after acquiring an additional 1,131 shares during the quarter. Inceptionr LLC’s holdings in Brown & Brown were worth $1,755,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bares Capital Management Inc. acquired a new position in shares of Brown & Brown during the 1st quarter worth $26,000. ST Germain D J Co. Inc. boosted its holdings in Brown & Brown by 298.5% during the second quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $30,000 after buying an additional 200 shares in the last quarter. SouthState Corp grew its position in Brown & Brown by 188.6% during the first 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 period. Motco acquired a new position in Brown & Brown during the second quarter worth about $32,000. Finally, Bruce G. Allen Investments LLC increased its holdings in Brown & Brown by 1,129.6% in the second quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock valued at $37,000 after buying an additional 305 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Bank of America restated a “neutral” rating and issued a $97.00 price target (down previously from $135.00) on shares of Brown & Brown in a report on Monday, November 3rd. Argus reissued a “hold” rating on shares of Brown & Brown in a report on Thursday, July 31st. Barclays dropped their price target on Brown & Brown from $102.00 to $84.00 and set an “equal weight” rating for the company in a research report on Thursday, November 20th. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a research report on Monday, November 3rd. Finally, Wolfe Research began coverage on shares of Brown & Brown in a report on Thursday, November 20th. They set a “peer perform” rating for the company. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and an average target price of $102.69.

Brown & Brown Stock Up 1.6%

Shares of NYSE:BRO opened at $80.51 on Wednesday. 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 company has a market capitalization of $27.49 billion, a P/E ratio of 24.10, a P/E/G ratio of 1.70 and a beta of 0.77. Brown & Brown, Inc. has a 52-week low of $76.17 and a 52-week high of $125.68. The stock’s fifty day simple moving average is $86.91 and its 200-day simple moving average is $97.29.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.15. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The firm’s revenue for the quarter was up 35.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 EPS. As a group, equities research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th were given a $0.165 dividend. This is a boost from Brown & Brown’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, November 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 19.76%.

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.