BOK Financial Private Wealth Inc. Sells 2,975 Shares of Brown & Brown, Inc. $BRO

BOK Financial Private Wealth Inc. lowered its stake in Brown & Brown, Inc. (NYSE:BRO) by 19.8% in the second quarter, HoldingsChannel.com reports. The firm owned 12,070 shares of the financial services provider’s stock after selling 2,975 shares during the quarter. BOK Financial Private Wealth Inc.’s holdings in Brown & Brown were worth $1,338,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. GW&K Investment Management LLC grew its holdings in Brown & Brown by 104.4% during the first quarter. GW&K Investment Management LLC now owns 419 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 214 shares during the period. Access Investment Management LLC bought a new position in shares of Brown & Brown during the second quarter worth $1,109,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Brown & Brown by 30.6% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 760,893 shares of the financial services provider’s stock worth $84,360,000 after purchasing an additional 178,082 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Brown & Brown in the 1st quarter valued at $3,043,000. Finally, Jump Financial LLC increased its position in shares of Brown & Brown by 737.8% in the 1st quarter. Jump Financial LLC now owns 99,222 shares of the financial services provider’s stock valued at $12,343,000 after buying an additional 87,379 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 2.7%

NYSE:BRO opened at $78.51 on Monday. The company has a market cap of $26.81 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. Brown & Brown, Inc. has a twelve month low of $76.17 and a twelve month high of $125.68. The business has a 50 day moving average price of $90.31 and a two-hundred day moving average price of $99.98. The company has a quick ratio of 6.72, a current ratio of 2.10 and a debt-to-equity ratio of 0.62.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data 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 business had revenue of $1.61 billion for the quarter, compared to analyst estimates 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 firm posted $0.91 earnings per share. As a group, analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th will be paid a dividend of $0.165 per share. The ex-dividend date is Wednesday, November 5th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s dividend payout ratio (DPR) is currently 19.76%.

Wall Street Analysts Forecast Growth

BRO has been the topic of several recent analyst reports. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a report on Monday, November 3rd. Barclays cut their price objective on Brown & Brown from $108.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Argus reissued a “hold” rating on shares of Brown & Brown in a research note on Thursday, July 31st. Bank of America restated a “neutral” rating and set a $97.00 target price (down from $135.00) on shares of Brown & Brown in a report on Monday, November 3rd. Finally, BMO Capital Markets reduced their price target on shares of Brown & Brown from $122.00 to $106.00 and set an “outperform” rating for the company in a report on Wednesday, July 30th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $105.23.

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.