Larson Financial Group LLC Acquires 211 Shares of Brown & Brown, Inc. (NYSE:BRO)

Larson Financial Group LLC increased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 65.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 532 shares of the financial services provider’s stock after purchasing an additional 211 shares during the period. Larson Financial Group LLC’s holdings in Brown & Brown were worth $48,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BRO. Simon Quick Advisors LLC increased its stake in shares of Brown & Brown by 68.5% in the second quarter. Simon Quick Advisors LLC now owns 13,549 shares of the financial services provider’s stock valued at $1,211,000 after buying an additional 5,507 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Brown & Brown by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock worth $1,819,000 after purchasing an additional 100 shares during the last quarter. Legacy Capital Wealth Partners LLC acquired a new position in shares of Brown & Brown in the 2nd quarter worth approximately $620,000. CIBC Asset Management Inc boosted its stake in shares of Brown & Brown by 1.9% in the 2nd quarter. CIBC Asset Management Inc now owns 34,363 shares of the financial services provider’s stock valued at $3,072,000 after purchasing an additional 656 shares during the last quarter. Finally, Resonant Capital Advisors LLC increased its position in shares of Brown & Brown by 4.6% during the second quarter. Resonant Capital Advisors LLC now owns 10,142 shares of the financial services provider’s stock worth $907,000 after buying an additional 448 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Brown & Brown

In related news, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total transaction of $250,800.00. Following the sale, the chief financial officer now directly owns 88,445 shares in the company, valued at $8,872,802.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the sale, the chief financial officer now owns 88,445 shares of the company’s stock, valued at $8,872,802.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Hyatt J. Brown sold 134,640 shares of the 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. Company insiders own 17.02% of the company’s stock.

Brown & Brown Stock Performance

Shares of Brown & Brown stock opened at $103.94 on Monday. The company has a market cap of $29.65 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 2.44 and a beta of 0.83. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 52 week low of $66.73 and a 52 week high of $106.02. The business has a 50 day moving average price of $98.33 and a 200-day moving average price of $90.64.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 EPS. Equities analysts anticipate that Brown & Brown, Inc. will post 3.68 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.52 annualized dividend and a dividend yield of 0.50%. Brown & Brown’s dividend payout ratio is currently 16.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Citigroup upped their target price on Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Barclays assumed coverage on shares of Brown & Brown in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 price objective for the company. Truist Financial increased their target price on shares of Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Bank of America raised shares of Brown & Brown from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $91.00 to $101.00 in a research note on Wednesday, May 22nd. Finally, Royal Bank of Canada 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 Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Brown & Brown currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Brown & Brown Company 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.