Insider Selling: Brown & Brown, Inc. (NYSE:BRO) CFO Sells 2,500 Shares of Stock

Brown & Brown, Inc. (NYSE:BRO) CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the sale, the chief financial officer now owns 88,445 shares in the company, valued at approximately $8,872,802.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Brown & Brown Trading Up 0.0 %

Shares of NYSE BRO opened at $100.32 on Monday. Brown & Brown, Inc. has a 1-year low of $66.73 and a 1-year high of $103.16. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35. The business’s 50 day moving average is $93.42 and its two-hundred day moving average is $87.36. The stock has a market capitalization of $28.62 billion, a P/E ratio of 30.87, a PEG ratio of 2.47 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business earned $0.68 EPS. The company’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, research analysts expect that Brown & Brown, Inc. will post 3.67 EPS for the current year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, August 7th. Brown & Brown’s dividend payout ratio (DPR) is 16.00%.

Institutional Investors Weigh In On Brown & Brown

Hedge funds and other institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC boosted its stake in shares of Brown & Brown by 330.4% during the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 228 shares during the period. Headlands Technologies LLC purchased a new position in shares of Brown & Brown during the first quarter valued at approximately $32,000. Alaska Permanent Fund Corp bought a new position in shares of Brown & Brown during the first quarter valued at approximately $36,000. First PREMIER Bank purchased a new stake in shares of Brown & Brown in the first quarter worth approximately $40,000. Finally, Intelligent Financial Strategies bought a new stake in shares of Brown & Brown during the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on BRO. Citigroup raised their target price on shares of Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Raymond James raised their price objective on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a report on Thursday. Keefe, Bruyette & Woods increased their price target on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. Finally, Truist Financial raised their price target on Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and a consensus target price of $97.40.

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.