34,287 Shares in Brown & Brown, Inc. (NYSE:BRO) Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Brown & Brown, Inc. (NYSE:BRO) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 34,287 shares of the financial services provider’s stock, valued at approximately $3,552,000.

Several other institutional investors also recently modified their holdings of BRO. Crewe Advisors LLC grew its position in Brown & Brown by 330.4% during the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 228 shares during the last quarter. ST Germain D J Co. Inc. boosted its holdings in shares of Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Brown & Brown during the 3rd quarter valued at about $29,000. Blue Trust Inc. boosted its holdings in shares of Brown & Brown by 142.3% during the 2nd quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 323 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Brown & Brown by 65.7% during the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 211 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Price Performance

NYSE BRO opened at $112.05 on Monday. Brown & Brown, Inc. has a 12 month low of $69.13 and a 12 month high of $114.08. The stock has a market cap of $32.04 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 2.55 and a beta of 0.82. The company’s 50 day moving average is $106.16 and its two-hundred day moving average is $98.92. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 earnings per share. As a group, research analysts anticipate that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.54%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. Brown & Brown’s payout ratio is presently 16.35%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Truist Financial raised their price objective on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their price objective on shares of Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Bank of America raised their price objective on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group raised their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $107.42.

Insiders Place Their Bets

In other Brown & Brown 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 transaction of $14,071,226.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 17.02% of the stock is owned by insiders.

About Brown & Brown

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.