Brown & Brown, Inc. (NYSE:BRO) Stock Holdings Boosted by ORG Partners LLC

ORG Partners LLC grew its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 111.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 633 shares of the financial services provider’s stock after purchasing an additional 333 shares during the quarter. ORG Partners LLC’s holdings in Brown & Brown were worth $55,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of BRO. Alps Advisors Inc. bought a new position in shares of Brown & Brown in the third quarter valued at $321,000. Public Sector Pension Investment Board boosted its position in shares of Brown & Brown by 5.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 55,095 shares of the financial services provider’s stock valued at $3,848,000 after purchasing an additional 2,748 shares during the period. EP Wealth Advisors LLC purchased a new position in Brown & Brown in the 3rd quarter worth about $416,000. Bar Harbor Wealth Management increased its stake in Brown & Brown by 1.2% in the 3rd quarter. Bar Harbor Wealth Management now owns 163,325 shares of the financial services provider’s stock worth $11,407,000 after purchasing an additional 1,951 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Brown & Brown during the 3rd quarter worth about $631,000. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BRO. UBS Group lifted their target price on shares of Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday. Raymond James lifted their price objective on shares of Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Truist Financial increased their target price on Brown & Brown from $94.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup lifted their price target on Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $91.70.

Insider Activity

In other news, EVP Julie Turpin sold 3,350 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $89.92, for a total value of $301,232.00. Following the completion of the sale, the executive vice president now directly owns 23,597 shares in the company, valued at $2,121,842.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.02% of the stock is currently owned by insiders.

Brown & Brown Stock Up 1.9 %

BRO traded up $1.77 during midday trading on Friday, hitting $93.74. 1,302,925 shares of the company’s stock traded hands, compared to its average volume of 1,259,436. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.97. The company has a market cap of $26.74 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 2.39 and a beta of 0.82. The stock’s fifty day simple moving average is $89.47 and its 200-day simple moving average is $83.59. Brown & Brown, Inc. has a one year low of $66.73 and a one year high of $94.12.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. Brown & Brown’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. As a group, equities analysts anticipate that Brown & Brown, Inc. will post 3.61 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, May 3rd. This represents a $0.52 annualized dividend and a dividend yield of 0.55%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Brown & Brown Company 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.