Brown & Brown, Inc. $BRO Stock Holdings Raised by Krilogy Financial LLC

Krilogy Financial LLC lifted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 149.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,518 shares of the financial services provider’s stock after purchasing an additional 8,687 shares during the period. Krilogy Financial LLC’s holdings in Brown & Brown were worth $884,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Brown & Brown during the second quarter worth $1,418,571,000. Principal Financial Group Inc. grew its position in shares of Brown & Brown by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 15,608,720 shares of the financial services provider’s stock valued at $1,017,847,000 after acquiring an additional 246,172 shares during the period. Deutsche Bank AG bought a new position in shares of Brown & Brown in the 2nd quarter valued at about $266,941,000. Bank of America Corp DE grew its position in shares of Brown & Brown by 45.2% in the 1st quarter. Bank of America Corp DE now owns 3,623,179 shares of the financial services provider’s stock valued at $236,268,000 after acquiring an additional 1,128,417 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Brown & Brown by 5.1% during the 1st quarter. Royal Bank of Canada now owns 3,569,784 shares of the financial services provider’s stock worth $232,786,000 after purchasing an additional 173,320 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets upped their target price on shares of Brown & Brown from $73.00 to $74.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Jefferies Financial Group reiterated a “hold” rating on shares of Brown & Brown in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods upgraded Brown & Brown from an “underperform” rating to an “outperform” rating and set a $77.00 price target for the company in a report on Monday, October 12th. Citigroup reissued a “market outperform” rating on shares of Brown & Brown in a research report on Monday, October 12th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Brown & Brown in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and a consensus target price of $76.00.

Brown & Brown Stock Performance

BRO traded up $1.44 on Friday, reaching $69.42. The company had a trading volume of 2,220,368 shares, compared to its average volume of 2,491,204. Brown & Brown, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $90.46. The stock has a market cap of $23.23 billion, a P/E ratio of 21.90, a P/E/G ratio of 2.12 and a beta of 0.60. The company’s fifty day moving average is $67.21 and its 200 day moving average is $64.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.11 and a current ratio of 2.11.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the business earned $1.03 earnings per share. The company’s revenue was up 30.4% on a year-over-year basis. As a group, analysts predict that Brown & Brown, Inc. will post 4.49 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were paid a dividend of $0.1650 per share. The ex-dividend date was Wednesday, August 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. Brown & Brown’s dividend payout ratio (DPR) is 20.82%.

About Brown & Brown

Brown & Brown, Inc is an independent insurance brokerage, risk management and employee benefits firm headquartered in Daytona Beach, Florida. The company helps businesses, public entities and individuals identify, manage and transfer risk through insurance placement, risk consulting and related services.

Its offerings include property and casualty insurance, employee benefits, personal insurance, surety products, risk management services and specialized insurance programs. Brown & Brown also operates wholesale brokerage businesses that provide coverage solutions and access to insurance markets for retail agents and brokers, including products designed for specialty and hard-to-place risks.

Founded in 1939 by J.