Hutchens & Kramer Investment Management Group LLC Acquires Shares of 1,954 Brown & Brown, Inc. (NYSE:BRO)

Hutchens & Kramer Investment Management Group LLC acquired a new stake in Brown & Brown, Inc. (NYSE:BRO) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,954 shares of the financial services provider’s stock, valued at approximately $205,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Brown & Brown by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 28,355,305 shares of the financial services provider’s stock valued at $2,482,223,000 after purchasing an additional 203,105 shares during the period. Principal Financial Group Inc. boosted its holdings in Brown & Brown by 0.7% in the 2nd quarter. Principal Financial Group Inc. now owns 12,804,979 shares of the financial services provider’s stock valued at $1,144,893,000 after purchasing an additional 86,824 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Brown & Brown by 24.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock valued at $311,979,000 after purchasing an additional 687,783 shares during the period. Royal London Asset Management Ltd. boosted its holdings in Brown & Brown by 105.1% in the 2nd quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock valued at $184,930,000 after purchasing an additional 1,059,711 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Brown & Brown by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,553,396 shares of the financial services provider’s stock valued at $138,899,000 after purchasing an additional 114,688 shares during the period. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

BRO stock opened at $105.86 on Wednesday. The company has a 50 day simple moving average of $103.04 and a 200 day simple moving average of $93.99. The stock has a market cap of $30.20 billion, a price-to-earnings ratio of 32.57, a P/E/G ratio of 2.45 and a beta of 0.83. Brown & Brown, Inc. has a 1 year low of $66.73 and a 1 year high of $107.67. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 EPS. Research analysts anticipate that Brown & Brown, Inc. will post 3.69 EPS for the current fiscal year.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the completion of the transaction, the chief financial officer now directly owns 88,445 shares in the company, valued at approximately $8,872,802.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the completion of the transaction, the chief financial officer now directly owns 88,445 shares in the company, valued at approximately $8,872,802.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The disclosure for this sale can be found here. Corporate insiders own 17.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on BRO shares. Truist Financial boosted their price objective on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. UBS Group upped their price target on shares of Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods upped their price target on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Royal Bank of Canada upped their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Raymond James upped their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Brown & Brown currently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

About Brown & Brown

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.