Pure Financial Advisors LLC Takes Position in Brown & Brown, Inc. $BRO

Pure Financial Advisors LLC bought a new stake in Brown & Brown, Inc. (NYSE:BRO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,796 shares of the financial services provider’s stock, valued at approximately $564,000.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. bought a new position in Brown & Brown during the second quarter valued at $1,418,571,000. Capital World Investors increased its holdings in shares of Brown & Brown by 2.3% in the 4th quarter. Capital World Investors now owns 17,886,395 shares of the financial services provider’s stock worth $1,425,546,000 after buying an additional 407,006 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Brown & Brown by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 15,608,720 shares of the financial services provider’s stock worth $1,017,847,000 after buying an additional 246,172 shares during the last quarter. State Street Corp raised its position in shares of Brown & Brown by 2.2% during the 4th quarter. State Street Corp now owns 13,403,814 shares of the financial services provider’s stock valued at $1,068,284,000 after buying an additional 282,988 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Brown & Brown by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 7,952,957 shares of the financial services provider’s stock worth $631,495,000 after acquiring an additional 118,225 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on BRO. Barclays raised their price objective on Brown & Brown from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. UBS Group reiterated a “neutral” rating and set a $73.00 price objective (up from $65.00) on shares of Brown & Brown in a research report on Wednesday, July 8th. Truist Financial set a $90.00 target price on shares of Brown & Brown in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Brown & Brown from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Finally, Citigroup cut shares of Brown & Brown from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $70.00 to $79.00 in a research note on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.80.

Brown & Brown Trading Down 2.0%

NYSE:BRO opened at $71.35 on Friday. Brown & Brown, Inc. has a 12 month low of $53.81 and a 12 month high of $97.49. The firm has a fifty day simple moving average of $68.77 and a 200-day simple moving average of $65.75. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $23.88 billion, a P/E ratio of 22.51, a PEG ratio of 3.63 and a beta of 0.59.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.71 billion. Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. Brown & Brown’s revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 earnings per share. On average, equities research analysts anticipate that Brown & Brown, Inc. will post 4.5 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. Brown & Brown’s dividend payout ratio is currently 20.82%.

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.