7,924 Shares in Brown & Brown, Inc. $BRO Bought by Glenview Trust Co

Glenview Trust Co purchased a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 7,924 shares of the financial services provider’s stock, valued at approximately $508,000.

A number of other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC purchased a new position in shares of Brown & Brown in the second quarter valued at about $1,895,000. United Capital Financial Advisors LLC purchased a new stake in shares of Brown & Brown during the second quarter worth about $1,279,000. Equitable Holdings Inc. bought a new stake in shares of Brown & Brown in the second quarter worth about $424,000. Jefferies Financial Group Inc. bought a new stake in shares of Brown & Brown in the second quarter worth about $218,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Brown & Brown during the 2nd quarter valued at about $5,395,000. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on BRO. Mizuho upped their price target on Brown & Brown from $81.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their target price on Brown & Brown from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. BMO Capital Markets upped their target price on Brown & Brown from $73.00 to $74.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods raised their price target on Brown & Brown from $72.00 to $74.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Brown & Brown in a report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and an average target price of $76.80.

Brown & Brown Stock Up 2.7%

Shares of Brown & Brown stock opened at $73.32 on Friday. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $97.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11. The company has a 50-day moving average of $69.05 and a 200 day moving average of $65.80. The firm has a market cap of $24.53 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 3.65 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 business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 earnings per share. As a group, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.5 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

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