Benchmark Investment Advisors LLC Makes New $1.62 Million Investment in Brown & Brown, Inc. $BRO

Benchmark Investment Advisors LLC bought a new stake in Brown & Brown, Inc. (NYSE:BRO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,141 shares of the financial services provider’s stock, valued at approximately $1,620,000. Brown & Brown makes up approximately 0.9% of Benchmark Investment Advisors LLC’s holdings, making the stock its 28th biggest position.

Other large investors have also recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new stake in Brown & Brown during the 2nd quarter worth about $30,000. Cornerstone Planning Group LLC lifted its holdings in Brown & Brown by 423.1% in the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 220 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Brown & Brown during the 2nd quarter worth about $49,000. Evelyn Partners Investment Management LLP acquired a new stake in shares of Brown & Brown during the 2nd quarter worth about $52,000. Finally, Generali Investments Management Co LLC purchased a new stake in shares of Brown & Brown during the second quarter worth about $60,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Mizuho raised Brown & Brown from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $84.00 to $85.00 in a research note on Friday, February 27th. Jefferies Financial Group dropped their target price on Brown & Brown from $89.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. Wolfe Research started coverage on Brown & Brown in a research report on Thursday, November 20th. They set a “peer perform” rating on the stock. Morgan Stanley lowered their price target on Brown & Brown from $85.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, January 29th. Finally, Truist Financial dropped their price objective on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $90.29.

Brown & Brown Stock Performance

Brown & Brown stock opened at $68.29 on Friday. Brown & Brown, Inc. has a 12-month low of $65.68 and a 12-month high of $125.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66. The company has a market capitalization of $23.25 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 1.81 and a beta of 0.79. The firm’s fifty day moving average price is $73.46 and its 200 day moving average price is $81.77.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.65 billion. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.Brown & Brown’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. On average, research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. Brown & Brown’s dividend payout ratio (DPR) is currently 20.63%.

Brown & Brown Company Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.