Brown & Brown (NYSE:BRO) Director H Palmer Proctor, Jr. Acquires 2,000 Shares

Brown & Brown, Inc. (NYSE:BRO) Director H Palmer Proctor, Jr. acquired 2,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were bought at an average price of $57.10 per share, with a total value of $114,200.00. Following the completion of the transaction, the director directly owned 47,621 shares of the company’s stock, valued at $2,719,159.10. The trade was a 4.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Brown & Brown Price Performance

Shares of BRO opened at $56.64 on Thursday. Brown & Brown, Inc. has a 1 year low of $56.54 and a 1 year high of $113.83. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market capitalization of $19.20 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 2.65 and a beta of 0.66. The business has a 50-day moving average of $67.10 and a 200-day moving average of $74.43.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The firm’s revenue was up 35.4% compared to the same quarter last year. During the same period last year, the company earned $1.29 earnings per share. As a group, equities research analysts anticipate that Brown & Brown, Inc. will post 4.51 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, May 11th. Brown & Brown’s payout ratio is presently 21.22%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC boosted its position in Brown & Brown by 38.3% in the first quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider’s stock worth $4,132,000 after purchasing an additional 9,264 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Brown & Brown by 5.2% during the 1st quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider’s stock valued at $1,387,000 after buying an additional 547 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Brown & Brown by 1,824.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 53,103 shares of the financial services provider’s stock valued at $5,888,000 after buying an additional 50,344 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Brown & Brown by 27.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the financial services provider’s stock valued at $116,000 after buying an additional 223 shares during the last quarter. Finally, Cary Street Partners Financial LLC lifted its position in shares of Brown & Brown by 60.9% during the 2nd quarter. Cary Street Partners Financial LLC now owns 933 shares of the financial services provider’s stock valued at $103,000 after buying an additional 353 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Argus upgraded Brown & Brown to a “hold” rating in a report on Tuesday, January 27th. UBS Group restated a “neutral” rating and set a $81.00 price objective (down from $90.00) on shares of Brown & Brown in a report on Thursday, January 29th. Royal Bank Of Canada decreased their price objective on Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating for the company in a report on Wednesday, April 29th. Morgan Stanley decreased their price objective on Brown & Brown from $76.00 to $70.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Finally, Wells Fargo & Company decreased their price objective on Brown & Brown from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $80.73.

Brown & Brown Company Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.