Callan Family Office LLC Acquires New Position in Brown & Brown, Inc. $BRO

Callan Family Office LLC bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 18,986 shares of the financial services provider’s stock, valued at approximately $1,218,000.

Other large investors also recently modified their holdings of the company. Allworth Financial LP bought a new position in Brown & Brown in the 2nd quarter valued at approximately $213,000. B. Metzler seel. Sohn & Co. AG bought a new stake in Brown & Brown during the second quarter valued at $796,000. TrinityBridge Ltd acquired a new stake in Brown & Brown during the second quarter worth approximately $257,000. MJP Associates Inc. ADV acquired a new stake in shares of Brown & Brown during the 2nd quarter worth approximately $420,000. Finally, PCM Encore LLC bought a new stake in Brown & Brown in the second quarter valued at $255,000. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $72.89 on Monday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. The stock’s 50-day simple moving average is $67.66 and its two-hundred day simple moving average is $65.75. The firm has a market capitalization of $24.39 billion, a P/E ratio of 22.99, a P/E/G ratio of 3.63 and a beta of 0.59. Brown & Brown, Inc. has a twelve month low of $53.81 and a twelve month high of $97.73.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.71 billion. Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. As a group, equities analysts anticipate that Brown & Brown, Inc. will post 4.5 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 12th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis 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 currently 20.82%.

Analyst Ratings Changes

BRO has been the subject of several recent research reports. BMO Capital Markets boosted their price objective on Brown & Brown from $73.00 to $74.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Jefferies Financial Group reiterated a “hold” rating on shares of Brown & Brown in a research note on Wednesday, July 29th. UBS Group reiterated a “neutral” rating and set a $73.00 target price (up from $65.00) on shares of Brown & Brown in a research note on Wednesday, July 8th. The Goldman Sachs Group lifted their price target on shares of Brown & Brown from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $60.00 price objective (up from $56.00) on shares of Brown & Brown in a report on Wednesday. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.