Creative Planning Has $2.66 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Creative Planning boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 69.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,780 shares of the financial services provider’s stock after buying an additional 12,236 shares during the period. Creative Planning’s holdings in Brown & Brown were worth $2,663,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC boosted its position in shares of Brown & Brown by 330.4% during the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 228 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Brown & Brown in the 1st quarter valued at $32,000. Alaska Permanent Fund Corp bought a new position in shares of Brown & Brown in the 1st quarter valued at $36,000. First PREMIER Bank acquired a new position in shares of Brown & Brown during the 1st quarter worth $40,000. Finally, Intelligent Financial Strategies bought a new stake in shares of Brown & Brown during the 1st quarter worth $45,000. 71.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on BRO. UBS Group boosted their target price on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods boosted their target price on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Raymond James increased their price target on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company upgraded Brown & Brown from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $94.00 to $112.00 in a research report on Monday, August 12th. Finally, Royal Bank of Canada lifted their price target on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.67.

Insiders Place Their Bets

In other news, CFO R. Andrew Watts sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the transaction, the chief financial officer now owns 88,445 shares in the company, valued at approximately $8,872,802.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.02% of the company’s stock.

Brown & Brown Stock Performance

BRO stock opened at $105.65 on Friday. Brown & Brown, Inc. has a 1-year low of $66.73 and a 1-year high of $106.02. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $102.45 and a 200-day moving average price of $93.18. The firm has a market cap of $30.14 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 2.38 and a beta of 0.83.

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

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, August 7th. Brown & Brown’s dividend payout ratio is presently 16.00%.

Brown & Brown 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.