8,296 Shares in Brown & Brown, Inc. $BRO Acquired by Williamson Legacy Group LLC

Williamson Legacy Group LLC acquired a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,296 shares of the financial services provider’s stock, valued at approximately $920,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BRO. Bares Capital Management Inc. purchased a new position in shares of Brown & Brown during the 1st quarter valued at $26,000. ST Germain D J Co. Inc. boosted its position in Brown & Brown by 298.5% during the second quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. SouthState Corp boosted its position in Brown & Brown by 188.6% during the first quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 166 shares during the last quarter. Motco purchased a new position in Brown & Brown in the second quarter valued at about $32,000. Finally, Bruce G. Allen Investments LLC increased its position in Brown & Brown by 1,129.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 305 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citigroup lowered Brown & Brown from a “buy” rating to a “neutral” rating in a report on Monday, November 3rd. Keefe, Bruyette & Woods reduced their target price on shares of Brown & Brown from $92.00 to $79.00 and set an “underperform” rating for the company in a research note on Tuesday, November 4th. Barclays decreased their target price on shares of Brown & Brown from $102.00 to $84.00 and set an “equal weight” rating for the company in a research report on Thursday, November 20th. Raymond James Financial reaffirmed an “outperform” rating on shares of Brown & Brown in a research note on Monday, November 3rd. Finally, UBS Group decreased their price objective on shares of Brown & Brown from $120.00 to $106.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $102.69.

Brown & Brown Price Performance

Shares of Brown & Brown stock opened at $81.10 on Friday. The company has a current ratio of 2.10, a quick ratio of 6.72 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $86.24 and a 200-day simple moving average of $96.85. The stock has a market capitalization of $27.69 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.70 and a beta of 0.77. Brown & Brown, Inc. has a 1-year low of $76.17 and a 1-year high of $125.68.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. Brown & Brown’s revenue was up 35.4% compared to the same quarter last year. During the same period last year, the business posted $0.91 EPS. On average, sell-side analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s payout ratio is presently 19.76%.

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.