Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Creative Planning

Creative Planning raised its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 29,892 shares of the financial services provider’s stock after purchasing an additional 112 shares during the quarter. Creative Planning’s holdings in Brown & Brown were worth $3,097,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. ORG Wealth Partners LLC acquired a new position in Brown & Brown during the third quarter worth approximately $674,000. Thurston Springer Miller Herd & Titak Inc. increased its position in Brown & Brown by 4.3% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 20,279 shares of the financial services provider’s stock worth $2,101,000 after purchasing an additional 834 shares during the last quarter. Koshinski Asset Management Inc. increased its position in Brown & Brown by 125.2% during the third quarter. Koshinski Asset Management Inc. now owns 9,614 shares of the financial services provider’s stock worth $996,000 after purchasing an additional 5,344 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in Brown & Brown by 228.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,801 shares of the financial services provider’s stock worth $187,000 after purchasing an additional 1,253 shares during the last quarter. Finally, TAP Consulting LLC increased its position in Brown & Brown by 2.2% during the third quarter. TAP Consulting LLC now owns 24,301 shares of the financial services provider’s stock worth $2,518,000 after purchasing an additional 525 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Down 1.2 %

BRO stock opened at $103.98 on Friday. Brown & Brown, Inc. has a 52-week low of $67.30 and a 52-week high of $107.67. The company’s 50 day simple moving average is $104.03 and its 200-day simple moving average is $95.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a market capitalization of $29.66 billion, a P/E ratio of 29.88, a P/E/G ratio of 2.48 and a beta of 0.83.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 0.58%. Brown & Brown’s payout ratio is presently 14.94%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BRO. UBS Group increased their price objective on shares of Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods increased their price objective on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Raymond James increased their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Argus began coverage on shares of Brown & Brown in a research report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective for the company. Finally, Bank of America increased their price objective on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $105.67.

Insider Activity at Brown & Brown

In related news, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the transaction, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the transaction, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The disclosure for this sale can be found here. 17.02% of the stock is currently owned by insiders.

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.