8,499 Shares in Brown & Brown, Inc. $BRO Bought by Pinebridge Investments LLC

Pinebridge Investments LLC purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,499 shares of the financial services provider’s stock, valued at approximately $677,000.

A number of other institutional investors have also recently bought and sold shares of BRO. Basepoint Wealth LLC bought a new position in Brown & Brown in the 4th quarter valued at $27,000. Darwin Wealth Management LLC bought a new position in Brown & Brown in the 2nd quarter valued at $30,000. Board of the Pension Protection Fund bought a new position in Brown & Brown in the 4th quarter valued at $40,000. Maseco LLP bought a new position in Brown & Brown in the 4th quarter valued at $60,000. Finally, eCIO Inc. bought a new position in Brown & Brown in the 4th quarter valued at $67,000. Institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling at Brown & Brown

In other news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was bought at an average price of $57.10 per share, for a total transaction of $114,200.00. Following the purchase, the director owned 47,621 shares of the company’s stock, valued at $2,719,159.10. The trade was a 4.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.13% of the company’s stock.

Brown & Brown Stock Up 1.8%

BRO stock opened at $59.05 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64. The company has a market capitalization of $20.01 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 2.67 and a beta of 0.63. Brown & Brown, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $111.10. The stock has a fifty day moving average of $61.40 and a 200-day moving average of $70.20.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The firm’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.29 EPS. As a group, equities research analysts predict that Brown & Brown, Inc. will post 4.51 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 11th were paid a dividend of $0.165 per share. The ex-dividend date was Monday, May 11th. This represents a $0.66 annualized dividend and a dividend yield of 1.1%. Brown & Brown’s dividend payout ratio is presently 21.22%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BRO. Wells Fargo & Company reduced their price objective on Brown & Brown from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Citigroup began coverage on Brown & Brown in a research note on Thursday, May 21st. They issued a “market outperform” rating for the company. Truist Financial reduced their price objective on Brown & Brown from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Mizuho reduced their price objective on Brown & Brown from $85.00 to $84.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Finally, Bank of America reduced their price objective on Brown & Brown from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Five research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $78.44.

About Brown & Brown

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.