Occidental Asset Management LLC Sells 1,198 Shares of Brown & Brown, Inc. (NYSE:BRO)

Occidental Asset Management LLC trimmed its holdings in shares of Brown & Brown, Inc. (NYSE:BROFree Report) by 12.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,350 shares of the financial services provider’s stock after selling 1,198 shares during the period. Occidental Asset Management LLC’s holdings in Brown & Brown were worth $731,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Legacy Capital Wealth Partners LLC raised its stake in shares of Brown & Brown by 2.6% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 6,316 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 158 shares during the period. Tributary Capital Management LLC raised its stake in shares of Brown & Brown by 1.1% during the 4th quarter. Tributary Capital Management LLC now owns 16,677 shares of the financial services provider’s stock worth $1,186,000 after purchasing an additional 174 shares during the period. First Horizon Advisors Inc. raised its stake in shares of Brown & Brown by 22.8% during the 4th quarter. First Horizon Advisors Inc. now owns 1,008 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 187 shares during the period. Czech National Bank raised its stake in shares of Brown & Brown by 0.5% during the 1st quarter. Czech National Bank now owns 41,562 shares of the financial services provider’s stock worth $3,638,000 after purchasing an additional 191 shares during the period. Finally, Xcel Wealth Management LLC raised its stake in shares of Brown & Brown by 3.2% during the 4th quarter. Xcel Wealth Management LLC now owns 6,389 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 200 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Insider Transactions at Brown & Brown

In other news, EVP Julie Turpin sold 3,350 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $89.92, for a total transaction of $301,232.00. Following the completion of the transaction, the executive vice president now owns 23,597 shares of the company’s stock, valued at $2,121,842.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.02% of the stock is owned by insiders.

Brown & Brown Stock Down 0.8 %

BRO stock opened at $89.41 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $25.50 billion, a PE ratio of 27.51, a PEG ratio of 2.35 and a beta of 0.82. Brown & Brown, Inc. has a twelve month low of $66.53 and a twelve month high of $93.75. The stock has a 50-day simple moving average of $88.01 and a two-hundred day simple moving average of $82.47.

Brown & Brown (NYSE:BROGet Free Report) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.22 billion. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. On average, equities analysts predict that Brown & Brown, Inc. will post 3.61 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, May 3rd. Brown & Brown’s payout ratio is 16.00%.

Wall Street Analysts Forecast Growth

BRO has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their target price on Brown & Brown from $80.00 to $82.00 and gave the stock an “underperform” rating in a research note on Friday, May 3rd. Raymond James lifted their price objective on Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Citigroup lifted their price objective on Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 31st. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a report on Tuesday, June 25th. Finally, Wells Fargo & Company lifted their price objective on Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $89.40.

Get Our Latest Stock Analysis on Brown & Brown

Brown & Brown Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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