Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Inspire Investing LLC

Inspire Investing LLC lowered its stake in Brown & Brown, Inc. (NYSE:BRO) by 21.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,135 shares of the financial services provider’s stock after selling 3,897 shares during the period. Inspire Investing LLC’s holdings in Brown & Brown were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its stake in shares of Brown & Brown by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock worth $1,819,000 after buying an additional 100 shares during the period. State of Alaska Department of Revenue increased its position in shares of Brown & Brown by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 25,633 shares of the financial services provider’s stock valued at $2,243,000 after purchasing an additional 125 shares during the last quarter. Studio Investment Management LLC raised its holdings in shares of Brown & Brown by 2.1% in the 2nd quarter. Studio Investment Management LLC now owns 6,417 shares of the financial services provider’s stock valued at $574,000 after purchasing an additional 130 shares in the last quarter. Simplicity Wealth LLC lifted its position in shares of Brown & Brown by 5.6% during the 2nd quarter. Simplicity Wealth LLC now owns 2,505 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 132 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Brown & Brown by 2.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,856 shares of the financial services provider’s stock worth $613,000 after purchasing an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Citigroup raised their price target on Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Keefe, Bruyette & Woods raised their price objective on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Wells Fargo & Company upgraded shares of Brown & Brown from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $94.00 to $112.00 in a report on Monday, August 12th. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, UBS Group boosted their price target on shares of Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.00.

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 shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the transaction, the chief financial officer now directly owns 88,445 shares in the company, valued at approximately $8,872,802.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO R. Andrew Watts sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the completion of the sale, the chief financial officer now owns 88,445 shares in the company, valued at approximately $8,872,802.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was 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 Trading Down 1.0 %

Shares of Brown & Brown stock opened at $101.45 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. The company has a market capitalization of $28.94 billion, a P/E ratio of 31.22, a PEG ratio of 2.37 and a beta of 0.83. Brown & Brown, Inc. has a 1 year low of $66.73 and a 1 year high of $106.02. The company’s fifty day moving average is $100.56 and its two-hundred day moving average is $91.71.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results 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 analyst estimates of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The business’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company posted $0.68 earnings per share. Analysts forecast that Brown & Brown, Inc. will post 3.68 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Wednesday, August 7th. Brown & Brown’s payout ratio is currently 16.00%.

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.