Insider Buying: Brown & Brown, Inc. (NYSE:BRO) Director Buys 1,670 Shares of Stock

Brown & Brown, Inc. (NYSE:BROGet Rating) Director Lawrence L. Gellerstedt III bought 1,670 shares of Brown & Brown stock in a transaction that occurred on Tuesday, May 3rd. The shares were acquired at an average price of $59.99 per share, with a total value of $100,183.30. Following the completion of the acquisition, the director now directly owns 7,727 shares of the company’s stock, valued at approximately $463,542.73. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

BRO stock opened at $61.51 on Thursday. Brown & Brown, Inc. has a 12-month low of $50.78 and a 12-month high of $74.00. The company has a quick ratio of 1.04, a current ratio of 3.80 and a debt-to-equity ratio of 0.81. The company has a market cap of $17.41 billion, a price-to-earnings ratio of 28.74 and a beta of 0.81. The company has a 50 day moving average of $68.32 and a two-hundred day moving average of $66.77.

Brown & Brown (NYSE:BROGet Rating) last released its earnings results on Monday, April 25th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. Brown & Brown had a net margin of 19.35% and a return on equity of 15.53%. During the same period in the prior year, the business posted $0.70 earnings per share. On average, research analysts anticipate that Brown & Brown, Inc. will post 2.28 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 18th. Shareholders of record on Monday, May 9th will be given a $0.102 dividend. The ex-dividend date of this dividend is Friday, May 6th. This represents a $0.41 dividend on an annualized basis and a yield of 0.66%. Brown & Brown’s payout ratio is 19.16%.

Several equities research analysts recently commented on the stock. UBS Group assumed coverage on shares of Brown & Brown in a research report on Monday, April 18th. They issued a “neutral” rating and a $76.00 price target for the company. Morgan Stanley upped their price target on shares of Brown & Brown from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, April 14th. Truist Financial upped their price target on shares of Brown & Brown from $77.00 to $82.00 in a research report on Thursday, April 21st. Zacks Investment Research downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating and set a $67.00 price target for the company. in a research report on Thursday, January 27th. Finally, Royal Bank of Canada upped their price target on shares of Brown & Brown from $64.00 to $67.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 26th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $71.11.

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its holdings in shares of Brown & Brown by 938.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 470,208 shares of the financial services provider’s stock valued at $26,073,000 after purchasing an additional 424,908 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Brown & Brown by 2.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 62,643 shares of the financial services provider’s stock valued at $4,402,000 after purchasing an additional 1,238 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Brown & Brown by 199.1% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 196,128 shares of the financial services provider’s stock valued at $10,875,000 after purchasing an additional 130,562 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Brown & Brown by 17.0% during the 3rd quarter. LPL Financial LLC now owns 79,759 shares of the financial services provider’s stock valued at $4,423,000 after purchasing an additional 11,568 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Brown & Brown by 105.9% during the 3rd quarter. Voya Investment Management LLC now owns 104,629 shares of the financial services provider’s stock valued at $5,801,000 after purchasing an additional 53,822 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Brown & Brown Company Profile (Get Rating)

Brown & Brown, Inc markets and sells insurance products and services in the United States, Bermuda, Canada, Ireland, the United Kingdom, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, loss control survey and analysis, consultancy, and claims processing services.

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