Greenleaf Trust Has $1.59 Million Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Greenleaf Trust lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 290.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,336 shares of the financial services provider’s stock after purchasing an additional 11,411 shares during the period. Greenleaf Trust’s holdings in Brown & Brown were worth $1,589,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its stake in Brown & Brown by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock worth $1,819,000 after acquiring an additional 100 shares in the last quarter. Trust Point Inc. boosted its position in shares of Brown & Brown by 4.3% during the 3rd quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 103 shares in the last quarter. Creative Planning increased its position in Brown & Brown by 0.4% in the 3rd quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after buying an additional 112 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Brown & Brown by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 25,633 shares of the financial services provider’s stock worth $2,243,000 after buying an additional 125 shares during the period. Finally, Anchor Investment Management LLC grew its stake in Brown & Brown by 4.0% in the second quarter. Anchor Investment Management LLC now owns 3,286 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 125 shares during the period. Institutional investors own 71.01% of the company’s stock.

Insider Activity

In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.32, for a total transaction of $250,800.00. Following the completion of the transaction, the chief financial officer now owns 88,445 shares of the company’s stock, valued at $8,872,802.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the sale, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at $8,872,802.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.02% of the stock is owned by company insiders.

Brown & Brown Trading Up 0.5 %

Shares of BRO opened at $106.02 on Thursday. The firm has a market cap of $30.24 billion, a P/E ratio of 32.62, a price-to-earnings-growth ratio of 2.50 and a beta of 0.83. Brown & Brown, Inc. has a fifty-two week low of $67.06 and a fifty-two week high of $107.67. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. The business has a 50-day moving average of $103.91 and a 200 day moving average of $94.93.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the company posted $0.68 EPS. Brown & Brown’s revenue was up 12.5% compared to the same quarter last year. As a group, research analysts forecast that Brown & Brown, Inc. will post 3.69 EPS for the current year.

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be issued a $0.15 dividend. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Wall Street Analysts Forecast Growth

BRO has been the topic of a number of research reports. Bank of America upped their target price on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Truist Financial upped their target price on shares of Brown & Brown from $112.00 to $116.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Raymond James increased their price objective on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods raised their price objective 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, Royal Bank of Canada raised their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and a consensus target price of $105.67.

Brown & Brown Profile

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.