Cwm LLC raised its holdings in Brown & Brown, Inc. (NYSE:BRO – Free Report) by 16.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,044 shares of the financial services provider’s stock after purchasing an additional 695 shares during the period. Cwm LLC’s holdings in Brown & Brown were worth $290,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Brookstone Capital Management lifted its stake in shares of Brown & Brown by 2.7% during the first quarter. Brookstone Capital Management now owns 6,994 shares of the financial services provider’s stock valued at $418,000 after buying an additional 184 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Brown & Brown by 1.3% during the fourth quarter. Louisiana State Employees Retirement System now owns 15,200 shares of the financial services provider’s stock valued at $866,000 after buying an additional 200 shares during the period. Texas Permanent School Fund raised its stake in Brown & Brown by 0.7% during the fourth quarter. Texas Permanent School Fund now owns 33,399 shares of the financial services provider’s stock worth $1,903,000 after purchasing an additional 228 shares during the period. DAVENPORT & Co LLC raised its stake in Brown & Brown by 5.6% during the first quarter. DAVENPORT & Co LLC now owns 4,803 shares of the financial services provider’s stock worth $276,000 after purchasing an additional 256 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in Brown & Brown by 1.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,139 shares of the financial services provider’s stock worth $1,033,000 after purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 69.90% of the company’s stock.
Insider Transactions at Brown & Brown
In related news, Director Bronislaw Edmund Masojada bought 4,000 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was bought at an average price of $65.78 per share, with a total value of $263,120.00. Following the transaction, the director now owns 4,000 shares of the company’s stock, valued at $263,120. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 17.02% of the company’s stock.
Brown & Brown Price Performance
Brown & Brown (NYSE:BRO – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $997.51 million. Brown & Brown had a net margin of 18.34% and a return on equity of 15.19%. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period last year, the business earned $0.51 EPS. Equities research analysts expect that Brown & Brown, Inc. will post 2.51 EPS for the current fiscal year.
Brown & Brown Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 9th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Tuesday, August 8th. Brown & Brown’s payout ratio is currently 17.83%.
Analyst Ratings Changes
BRO has been the topic of a number of recent analyst reports. Raymond James increased their price target on shares of Brown & Brown from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup raised shares of Brown & Brown from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $69.00 in a research report on Tuesday, April 18th. Jefferies Financial Group dropped their price objective on shares of Brown & Brown from $69.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, April 10th. Finally, Royal Bank of Canada increased their price objective on shares of Brown & Brown from $72.00 to $77.00 in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.80.
Brown & Brown Profile
Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.
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