Empowered Funds LLC Makes New $1.90 Million Investment in Brown & Brown, Inc. $BRO

Empowered Funds LLC purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the second quarter, Holdings Channel.com reports. The firm purchased 29,545 shares of the financial services provider’s stock, valued at approximately $1,895,000.

Several other large investors have also made changes to their positions in BRO. Darwin Wealth Management LLC bought a new position in Brown & Brown during the second quarter valued at approximately $30,000. Basepoint Wealth LLC acquired a new stake in Brown & Brown in the fourth quarter valued at approximately $27,000. Union Bancaire Privee UBP SA bought a new stake in Brown & Brown in the first quarter worth approximately $25,000. DV Equities LLC acquired a new position in shares of Brown & Brown during the 4th quarter worth $33,000. Finally, Allied Private Wealth LLC acquired a new position in shares of Brown & Brown during the 2nd quarter worth $35,000. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.6%

Shares of Brown & Brown stock opened at $72.50 on Friday. The company’s fifty day moving average price is $69.99 and its two-hundred day moving average price is $65.89. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a market capitalization of $24.26 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 2.21 and a beta of 0.58. Brown & Brown, Inc. has a 52-week low of $53.81 and a 52-week high of $96.55.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%.The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the company earned $1.03 earnings per share. The business’s revenue was up 30.4% compared to the same quarter last year. On average, analysts expect that Brown & Brown, Inc. will post 4.5 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 12th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 12th. Brown & Brown’s payout ratio is currently 20.82%.

Analysts Set New Price Targets

Several research firms recently issued reports on BRO. Wells Fargo & Company reduced their price objective on shares of Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating for the company in a research note on Thursday, July 9th. Citigroup lowered Brown & Brown from an “outperform” rating to a “neutral” rating and raised their target price for the company from $70.00 to $79.00 in a report on Wednesday, July 29th. Truist Financial set a $90.00 price target on Brown & Brown in a research report on Wednesday, July 29th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Brown & Brown in a report on Wednesday, July 29th. Finally, Raymond James Financial restated an “outperform” rating on shares of Brown & Brown in a report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $76.80.

Brown & Brown 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.