MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 1,264 Shares of Brown & Brown, Inc. $BRO

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Brown & Brown, Inc. (NYSE:BRO) by 5.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,011 shares of the financial services provider’s stock after acquiring an additional 1,264 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Brown & Brown were worth $2,987,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Phillips Wealth Planners LLC boosted its holdings in Brown & Brown by 3.4% in the first quarter. Phillips Wealth Planners LLC now owns 2,659 shares of the financial services provider’s stock worth $316,000 after acquiring an additional 88 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Brown & Brown by 26.8% in the first quarter. SBI Securities Co. Ltd. now owns 454 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 96 shares in the last quarter. Gateway Investment Advisers LLC boosted its holdings in Brown & Brown by 2.3% in the first quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider’s stock worth $536,000 after acquiring an additional 97 shares in the last quarter. Graypoint LLC boosted its holdings in Brown & Brown by 3.3% in the first quarter. Graypoint LLC now owns 3,208 shares of the financial services provider’s stock worth $399,000 after acquiring an additional 103 shares in the last quarter. Finally, NorthRock Partners LLC boosted its holdings in Brown & Brown by 4.2% in the first quarter. NorthRock Partners LLC now owns 2,530 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 103 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Paul J. Krump purchased 2,678 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average cost of $93.31 per share, with a total value of $249,884.18. Following the completion of the purchase, the director owned 5,353 shares in the company, valued at approximately $499,488.43. This represents a 100.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bronislaw Edmund Masojada purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average cost of $91.44 per share, with a total value of $91,440.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at $457,200. The trade was a 25.00% increase in their position. The disclosure for this purchase can be found here. 17.02% of the stock is currently owned by corporate insiders.

Brown & Brown Stock Performance

Shares of BRO opened at $93.61 on Friday. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 0.64. The business has a 50-day simple moving average of $98.00 and a two-hundred day simple moving average of $108.51. The stock has a market cap of $30.88 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 2.14 and a beta of 0.81. Brown & Brown, Inc. has a 52 week low of $90.38 and a 52 week high of $125.68.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, July 28th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Brown & Brown had a return on equity of 15.10% and a net margin of 19.89%.The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.93 earnings per share. On average, analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 13th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $0.60 dividend on an annualized basis and a yield of 0.6%. Brown & Brown’s dividend payout ratio is presently 17.29%.

Wall Street Analyst Weigh In

BRO has been the subject of several recent analyst reports. Wall Street Zen cut Brown & Brown from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Keefe, Bruyette & Woods decreased their price target on Brown & Brown from $104.00 to $87.00 and set an “underperform” rating for the company in a research note on Thursday, July 31st. Truist Financial set a $120.00 price target on Brown & Brown in a research note on Wednesday, July 30th. Morgan Stanley decreased their price target on Brown & Brown from $109.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday, August 18th. Finally, Argus restated a “hold” rating on shares of Brown & Brown in a research note on Thursday, July 31st. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $112.64.

Brown & Brown Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.