Brown & Brown, Inc. (BRO:NYE) recently underwent changes in its institutional investors’ positions, according to its latest filing with the Securities and Exchange Commission. Strategy Asset Managers LLC trimmed its stake in the financial services provider by 31.7% during the fourth quarter, selling 2,228 BRO stock shares and leaving them with 4,810 shares valued at $274,000 as of their most recent filing.
In contrast, several other institutional investors recently acquired new stakes in Brown & Brown, including My Personal CFO LLC, CoreCap Advisors LLC, SJS Investment Consulting Inc., FNY Investment Advisers LLC, and Global Wealth Management Investment Advisory Inc.
On another note, Director Lawrence L. Gellerstedt III purchased 3,400 shares of the BRO stock on February 10th at an average cost of $57.92 per share, bringing his total ownership to 16,284 shares with a value of $943,169.28. Insiders currently own 16.67% of Brown & Brown’s stock.
BRO Stock-Analyst Ratings:
Several brokerages, including BMO Capital Markets, Morgan Stanley, Citigroup, and Wells Fargo & Company, have issued reports on BRO with varying ratings and target prices. Currently, seven analysts rate the stock as a hold and three rates it as a buy, with an average rating of “Buy” and an average target price of $66.00.
BRO Stock Price Analysis:
As of Wednesday, March 22nd, BRO stock opened at $55.79 with a fifty-two week low of $52.82 and a fifty-two week high of $74.00. The company has a market cap of $15.86 billion, a P/E ratio of 23.64, and a beta of 0.75. Its 50-day moving average is $57.72, and its two-hundred-day moving average is $58.65.
Quarterly Earning Review:
Brown & Brown announced its most recent quarterly earnings report on January 24. The financial services firm announced earnings per share of $0.50 for the quarter, exceeding analysts’ expectations by $0.04.
Brown & Brown’s return on equity was 14.88 percent and its net margin was 18.80 percent. The company’s quarterly revenue was $901.40 million, compared to the average forecast of $897.98 million. At the same time last year, the company generated $0.42 in earnings per share.
The company’s revenue increased by 22.1% compared to the same quarter the previous year. For the current fiscal year, analysts estimate that Brown & Brown, Inc. will produce earnings per share of $2.47 on average.
Brown & Brown Stock Dividend:
The company just announced a quarterly dividend, which was paid on February 15th. A $0.115 dividend per share was distributed to shareholders of record on February 3.
This implies a quarterly yield of 0.82% and a yearly dividend of $0.46. The ex-dividend date for this dividend was February 2nd, Thursday. The current dividend payout ratio for Brown & Brown is 19.49%.
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. Brown & Brown, Inc. was founded in 1939 and is headquartered in Daytona Beach, Florida.