Whittier Trust Co. of Nevada Inc. Buys 2,743 Shares of Brown & Brown, Inc. $BRO

Whittier Trust Co. of Nevada Inc. lifted its stake in Brown & Brown, Inc. (NYSE:BRO) by 3.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,246 shares of the financial services provider’s stock after buying an additional 2,743 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Brown & Brown were worth $9,784,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Bares Capital Management Inc. bought a new stake in shares of Brown & Brown in the first quarter valued at approximately $26,000. Optimum Investment Advisors bought a new stake in shares of Brown & Brown in the first quarter valued at approximately $31,000. SouthState Corp boosted its stake in shares of Brown & Brown by 188.6% in the first quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock valued at $32,000 after buying an additional 166 shares during the period. ST Germain D J Co. Inc. boosted its stake in shares of Brown & Brown by 298.5% in the second quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $30,000 after buying an additional 200 shares during the period. Finally, Bruce G. Allen Investments LLC lifted its stake in Brown & Brown by 1,129.6% during the second quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 305 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BRO has been the subject of several recent analyst reports. UBS Group cut their target price on Brown & Brown from $120.00 to $106.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Wells Fargo & Company cut their target price on Brown & Brown from $101.00 to $98.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and set a $120.00 target price (down from $125.00) on shares of Brown & Brown in a research note on Monday, August 4th. Weiss Ratings cut Brown & Brown from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Finally, Bank of America upgraded Brown & Brown from a “neutral” rating to a “buy” rating and upped their target price for the stock from $126.00 to $130.00 in a research note on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $109.92.

Insiders Place Their Bets

In related news, Director Paul J. Krump acquired 2,678 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $93.31 per share, for a total transaction of $249,884.18. Following the completion of the acquisition, the director directly owned 5,353 shares of the company’s stock, valued at approximately $499,488.43. This trade represents a 100.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bronislaw Edmund Masojada acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average price of $91.44 per share, with a total value of $91,440.00. Following the completion of the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at $457,200. This trade represents a 25.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 17.02% of the company’s stock.

Brown & Brown Stock Down 0.4%

Shares of NYSE:BRO opened at $87.58 on Tuesday. The company has a fifty day moving average of $94.12 and a 200-day moving average of $103.44. The company has a market capitalization of $28.89 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 1.98 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.72 and a current ratio of 6.72. Brown & Brown, Inc. has a 52-week low of $86.79 and a 52-week high of $125.68.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.93 earnings per share. On average, equities analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 13th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 13th. This represents a $0.60 annualized dividend and a dividend yield of 0.7%. Brown & Brown’s dividend payout ratio is 17.29%.

Brown & Brown Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.