Occidental Asset Management LLC Makes New $626,000 Investment in Brown & Brown, Inc. $BRO

Occidental Asset Management LLC bought a new position in Brown & Brown, Inc. (NYSE:BRO) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 9,755 shares of the financial services provider’s stock, valued at approximately $626,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BRO. Darwin Wealth Management LLC acquired a new stake in shares of Brown & Brown in the 2nd quarter worth $30,000. Basepoint Wealth LLC acquired a new stake in Brown & Brown during the fourth quarter worth about $27,000. Union Bancaire Privee UBP SA acquired a new stake in Brown & Brown during the first quarter worth about $25,000. DV Equities LLC purchased a new position in Brown & Brown during the fourth quarter worth about $33,000. Finally, Allied Private Wealth LLC acquired a new position in Brown & Brown in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group restated a “hold” rating on shares of Brown & Brown in a report on Wednesday, July 29th. Raymond James Financial reissued an “outperform” rating on shares of Brown & Brown in a research note on Friday, June 26th. BMO Capital Markets lifted their target price on Brown & Brown from $73.00 to $74.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Truist Financial set a $90.00 price target on Brown & Brown in a research note on Wednesday, July 29th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Brown & Brown in a research report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus price target of $76.47.

Brown & Brown Trading Down 2.5%

NYSE:BRO opened at $68.77 on Tuesday. Brown & Brown, Inc. has a 12-month low of $53.81 and a 12-month high of $98.30. The firm has a market cap of $23.01 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 3.52 and a beta of 0.59. 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 stock has a fifty day moving average price of $66.73 and a 200 day moving average price of $65.76.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%.Brown & Brown’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 12th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. Brown & Brown’s 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.