Brown & Brown, Inc. $BRO Shares Purchased by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 13.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 65,038 shares of the financial services provider’s stock after purchasing an additional 7,597 shares during the period. Stonebridge Financial Group LLC’s holdings in Brown & Brown were worth $4,172,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BRO. Darwin Wealth Management LLC acquired a new position in Brown & Brown during the second quarter worth $30,000. Basepoint Wealth LLC purchased a new stake in shares of Brown & Brown in the 4th quarter valued at $27,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Brown & Brown in the 1st quarter valued at $25,000. DV Equities LLC acquired a new position in Brown & Brown during the 4th quarter worth about $33,000. Finally, Maseco LLP acquired a new position in Brown & Brown during the 4th quarter worth about $60,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of Brown & Brown stock opened at $71.80 on Tuesday. The business has a 50-day simple moving average of $63.93 and a 200-day simple moving average of $66.32. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.11 and a current ratio of 2.11. Brown & Brown, Inc. has a one year low of $53.81 and a one year high of $98.30. The company has a market cap of $24.02 billion, a PE ratio of 22.65, a P/E/G ratio of 3.52 and a beta of 0.60.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the business earned $1.03 EPS. The firm’s revenue was up 30.4% compared to the same quarter last year. On average, equities research analysts forecast that Brown & Brown, Inc. will post 4.49 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, August 12th. Brown & Brown’s dividend payout ratio (DPR) is presently 20.82%.

Analyst Upgrades and Downgrades

BRO has been the topic of a number of recent research reports. Wells Fargo & Company cut their price target on shares of Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 9th. UBS Group restated a “neutral” rating and issued a $73.00 price objective (up from $65.00) on shares of Brown & Brown in a report on Wednesday, July 8th. BMO Capital Markets upped their target price on shares of Brown & Brown from $73.00 to $74.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Mizuho raised their price target on shares of Brown & Brown from $81.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Bank of America dropped their price target on shares of Brown & Brown from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $76.47.

About Brown & Brown

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.