Quantum Capital Management LLC NJ Has $41.84 Million Stock Position in Brown & Brown, Inc. $BRO

Quantum Capital Management LLC NJ decreased its position in Brown & Brown, Inc. (NYSE:BRO) by 1.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 641,613 shares of the financial services provider’s stock after selling 8,242 shares during the period. Brown & Brown comprises approximately 5.4% of Quantum Capital Management LLC NJ’s holdings, making the stock its 11th largest holding. Quantum Capital Management LLC NJ owned 0.19% of Brown & Brown worth $41,840,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Union Bancaire Privee UBP SA acquired a new position in shares of Brown & Brown in the first quarter valued at $25,000. Basepoint Wealth LLC bought a new position in Brown & Brown in the fourth quarter worth $27,000. Darwin Wealth Management LLC acquired a new stake in Brown & Brown during the second quarter worth $30,000. DV Equities LLC bought a new stake in Brown & Brown in the 4th quarter valued at $33,000. Finally, Maseco LLP bought a new stake in Brown & Brown in the 4th quarter valued at $60,000. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Brown & Brown from $72.00 to $74.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a research report on Friday, June 26th. UBS Group reissued a “neutral” rating and issued a $73.00 target price (up from $65.00) on shares of Brown & Brown in a research note on Wednesday, July 8th. Barclays increased their price target on shares of Brown & Brown from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings cut shares of Brown & Brown from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 23rd. Five analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Brown & Brown has a consensus rating of “Hold” and a consensus target price of $78.62.

Brown & Brown Stock Down 1.9%

Shares of NYSE BRO opened at $65.39 on Thursday. The stock has a market cap of $22.16 billion, a PE ratio of 21.03, a PEG ratio of 3.08 and a beta of 0.60. The business has a fifty day moving average of $61.85 and a two-hundred day moving average of $66.82. Brown & Brown, Inc. has a 52-week low of $53.81 and a 52-week high of $104.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64.

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

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 12th will be given a $0.165 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. Brown & Brown’s payout ratio is 21.22%.

Insider Buying and Selling

In other news, Director H Palmer Proctor, Jr. acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were purchased at an average cost of $57.10 per share, with a total value of $114,200.00. Following the completion of the purchase, the director owned 47,621 shares of the company’s stock, valued at $2,719,159.10. This represents a 4.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.13% of the stock is currently owned by company insiders.

About Brown & Brown

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.