Gator Capital Management LLC Takes $2.64 Million Position in Brown & Brown, Inc. $BRO

Gator Capital Management LLC bought a new stake in Brown & Brown, Inc. (NYSE:BRO) in the 4th quarter, Holdings Channel reports. The fund bought 33,171 shares of the financial services provider’s stock, valued at approximately $2,644,000.

Other large investors have also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC lifted its position in shares of Brown & Brown by 125.0% in the 4th quarter. Wealthspire Advisors LLC now owns 4,713 shares of the financial services provider’s stock worth $376,000 after buying an additional 2,618 shares during the last quarter. Quantum Capital Management LLC NJ increased its holdings in shares of Brown & Brown by 148.2% in the 4th quarter. Quantum Capital Management LLC NJ now owns 649,855 shares of the financial services provider’s stock worth $51,793,000 after acquiring an additional 388,059 shares during the period. Federation des caisses Desjardins du Quebec increased its holdings in shares of Brown & Brown by 31.1% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 10,533 shares of the financial services provider’s stock worth $839,000 after acquiring an additional 2,501 shares during the period. HRT Financial LP acquired a new stake in shares of Brown & Brown in the 4th quarter worth about $2,097,000. Finally, Brooklyn Investment Group increased its holdings in shares of Brown & Brown by 5.9% in the 4th quarter. Brooklyn Investment Group now owns 17,290 shares of the financial services provider’s stock worth $1,398,000 after acquiring an additional 961 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BRO has been the topic of several research analyst reports. Citizens Jmp started coverage on shares of Brown & Brown in a research note on Thursday, May 21st. They set a “market outperform” rating and a $70.00 target price on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brown & Brown in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Brown & Brown from $91.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Morgan Stanley decreased their price target on shares of Brown & Brown from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. Finally, Bank of America decreased their price target on shares of Brown & Brown from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $78.44.

Insider Activity at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. bought 2,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was acquired at an average cost of $57.10 per share, for a total transaction of $114,200.00. Following the completion of the acquisition, the director owned 47,621 shares in the company, valued at $2,719,159.10. This trade represents a 4.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 13.13% of the stock is currently owned by corporate insiders.

Brown & Brown Trading Up 0.0%

NYSE BRO opened at $59.96 on Friday. Brown & Brown, Inc. has a 12 month low of $53.81 and a 12 month high of $111.10. The stock has a 50 day moving average of $61.11 and a 200-day moving average of $69.85. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.52. The company has a market cap of $20.32 billion, a PE ratio of 19.28, a PEG ratio of 2.76 and a beta of 0.63.

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

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, May 11th. Brown & Brown’s payout ratio is currently 21.22%.

Brown & Brown 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.