Hyperion Capital Advisors LP Purchases Shares of 8,900 Brown & Brown, Inc. $BRO

Hyperion Capital Advisors LP purchased a new position in Brown & Brown, Inc. (NYSE:BRO) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,900 shares of the financial services provider’s stock, valued at approximately $571,000.

A number of other large investors have also modified their holdings of the stock. Union Bancaire Privee UBP SA acquired a new stake in shares of Brown & Brown in the first quarter valued at $25,000. Basepoint Wealth LLC purchased a new position in Brown & Brown in the fourth quarter valued at $27,000. Darwin Wealth Management LLC acquired a new position in Brown & Brown during the 2nd quarter worth $30,000. DV Equities LLC acquired a new position in Brown & Brown during the 4th quarter worth $33,000. Finally, Allied Private Wealth LLC purchased a new stake in Brown & Brown during the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

NYSE:BRO opened at $74.64 on Tuesday. Brown & Brown, Inc. has a 12 month low of $53.81 and a 12 month high of $97.73. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a market capitalization of $24.97 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 3.63 and a beta of 0.59. The business’s fifty day moving average price is $67.97 and its 200 day moving average price is $65.77.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%.The firm’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. On average, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.5 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 12th. Brown & Brown’s dividend payout ratio (DPR) is 20.82%.

Wall Street Analysts Forecast Growth

BRO has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their price target on Brown & Brown from $72.00 to $74.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Weiss Ratings raised Brown & Brown from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Barclays upped their target price on shares of Brown & Brown from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Morgan Stanley reaffirmed an “underweight” rating and issued a $60.00 target price (up from $56.00) on shares of Brown & Brown in a report on Wednesday, August 19th. Finally, Truist Financial set a $90.00 price target on shares of Brown & Brown in a research note on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.80.

Brown & Brown Profile

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.