Sumitomo Mitsui DS Asset Management Company Ltd Has $2.02 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,600 shares of the financial services provider’s stock after buying an additional 286 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Brown & Brown were worth $2,021,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of BRO. Crewe Advisors LLC increased its stake in Brown & Brown by 330.4% in the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 228 shares during the period. Headlands Technologies LLC acquired a new position in shares of Brown & Brown in the 1st quarter worth approximately $32,000. Alaska Permanent Fund Corp bought a new position in shares of Brown & Brown during the 1st quarter worth approximately $36,000. First PREMIER Bank acquired a new stake in Brown & Brown in the 1st quarter valued at $40,000. Finally, Intelligent Financial Strategies bought a new stake in Brown & Brown in the first quarter valued at $45,000. Institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling at Brown & Brown

In other news, EVP Julie Turpin sold 3,350 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $89.92, for a total value of $301,232.00. Following the transaction, the executive vice president now directly owns 23,597 shares in the company, valued at approximately $2,121,842.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Brown & Brown news, EVP Julie Turpin sold 3,350 shares of the firm’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 transaction, the executive vice president now owns 23,597 shares in the company, valued at $2,121,842.24. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the transaction, the chief financial officer now owns 88,445 shares of the company’s stock, valued at $8,872,802.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,490 shares of company stock worth $14,623,258. Insiders own 17.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BRO. UBS Group lifted their price objective on Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Royal Bank of Canada boosted their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Bank of America raised shares of Brown & Brown from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $91.00 to $101.00 in a report on Wednesday, May 22nd. Raymond James increased their price target on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods lifted their price objective on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.20.

Brown & Brown Trading Up 0.5 %

BRO stock opened at $105.13 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a twelve month low of $66.73 and a twelve month high of $105.45. The company has a market cap of $29.99 billion, a P/E ratio of 32.35, a PEG ratio of 2.44 and a beta of 0.82. The business has a fifty day moving average of $96.93 and a 200-day moving average of $89.81.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.05. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the business posted $0.68 EPS. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, equities research analysts expect that Brown & Brown, Inc. will post 3.68 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, August 7th. Brown & Brown’s dividend payout ratio is presently 16.00%.

Brown & Brown Profile

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.