State of Alaska Department of Revenue Buys 125 Shares of Brown & Brown, Inc. (NYSE:BRO)

State of Alaska Department of Revenue boosted its stake in shares of Brown & Brown, Inc. (NYSE:BROFree Report) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,633 shares of the financial services provider’s stock after purchasing an additional 125 shares during the quarter. State of Alaska Department of Revenue’s holdings in Brown & Brown were worth $2,243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cullinan Associates Inc. acquired a new position in shares of Brown & Brown in the first quarter valued at about $1,138,000. Congress Wealth Management LLC DE grew its stake in shares of Brown & Brown by 5.2% in the first quarter. Congress Wealth Management LLC DE now owns 137,039 shares of the financial services provider’s stock valued at $11,996,000 after acquiring an additional 6,744 shares in the last quarter. Park Place Capital Corp grew its stake in shares of Brown & Brown by 128.5% in the first quarter. Park Place Capital Corp now owns 1,163 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 654 shares in the last quarter. Compass Ion Advisors LLC grew its stake in shares of Brown & Brown by 13.4% in the first quarter. Compass Ion Advisors LLC now owns 11,662 shares of the financial services provider’s stock valued at $1,021,000 after acquiring an additional 1,375 shares in the last quarter. Finally, Vicus Capital acquired a new position in shares of Brown & Brown in the first quarter valued at about $207,000. 71.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BRO has been the topic of several research reports. Keefe, Bruyette & Woods upped their price target on shares of Brown & Brown from $80.00 to $82.00 and gave the company an “underperform” rating in a research note on Friday, May 3rd. Wells Fargo & Company upped their price target on shares of Brown & Brown from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. Royal Bank of Canada increased their price objective on shares of Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Truist Financial increased their price objective on shares of Brown & Brown from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $89.40.

Get Our Latest Report on BRO

Insider Activity at Brown & Brown

In related news, EVP Julie Turpin sold 3,350 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $89.92, for a total value of $301,232.00. Following the completion of the transaction, the executive vice president now owns 23,597 shares in the company, valued at approximately $2,121,842.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 16.43% of the stock is owned by company insiders.

Brown & Brown Stock Up 0.5 %

BRO stock opened at $90.52 on Friday. The stock has a market capitalization of $25.82 billion, a P/E ratio of 27.85, a price-to-earnings-growth ratio of 2.38 and a beta of 0.82. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 12 month low of $66.73 and a 12 month high of $93.75. The firm has a 50-day moving average price of $88.77 and a 200-day moving average price of $83.10.

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

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were issued a $0.13 dividend. The ex-dividend date was Friday, May 3rd. This represents a $0.52 dividend on an annualized basis and a yield of 0.57%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

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.

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

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