Aware Super Pty Ltd as trustee of Aware Super Takes $477,000 Position in Brown & Brown, Inc. $BRO

Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Brown & Brown, Inc. (NYSE:BRO) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,308 shares of the financial services provider’s stock, valued at approximately $477,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Union Bancaire Privee UBP SA purchased a new position in shares of Brown & Brown in the 1st quarter worth about $25,000. Basepoint Wealth LLC purchased a new stake in Brown & Brown during the 4th quarter valued at about $27,000. Darwin Wealth Management LLC purchased a new stake in Brown & Brown during the 2nd quarter valued at about $30,000. DV Equities LLC purchased a new stake in Brown & Brown during the 4th quarter valued at about $33,000. Finally, Board of the Pension Protection Fund bought a new stake in Brown & Brown during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

BRO stock opened at $69.29 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $104.97. The company has a market cap of $23.49 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 3.20 and a beta of 0.60. The stock’s fifty day moving average price is $61.14 and its 200-day moving average price is $67.19.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the company posted $1.29 EPS. The business’s quarterly revenue was up 35.4% compared to the same quarter last year. On average, equities analysts forecast that Brown & Brown, Inc. will post 4.5 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Monday, May 11th. Brown & Brown’s dividend payout ratio is currently 21.22%.

Analyst Upgrades and Downgrades

BRO has been the topic of a number of recent analyst reports. Citizens Jmp increased their price target on shares of Brown & Brown from $70.00 to $78.00 and gave the company a “market outperform” rating in a report on Friday, July 10th. Citigroup reissued an “outperform” rating on shares of Brown & Brown in a research report on Friday, July 10th. Truist Financial decreased their price objective on shares of Brown & Brown from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Royal Bank Of Canada lowered their price objective on Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 29th. Finally, Mizuho increased their target price on Brown & Brown from $74.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Five investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $78.62.

Insider Buying and Selling

In other Brown & Brown news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were acquired at an average cost of $57.10 per share, for a total transaction of $114,200.00. Following the completion of the transaction, the director owned 47,621 shares of the company’s stock, valued at approximately $2,719,159.10. The trade was a 4.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.13% of the company’s stock.

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.