Brown & Brown, Inc. $BRO Holdings Increased by Park National Corp OH

Park National Corp OH raised its position in Brown & Brown, Inc. (NYSE:BRO) by 104.6% in the 3rd quarter, Holdings Channel reports. The firm owned 90,039 shares of the financial services provider’s stock after buying an additional 46,031 shares during the quarter. Park National Corp OH’s holdings in Brown & Brown were worth $5,823,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Equitable Trust Co. raised its holdings in shares of Brown & Brown by 1.7% in the 1st quarter. Equitable Trust Co. now owns 10,901 shares of the financial services provider’s stock valued at $711,000 after acquiring an additional 182 shares in the last quarter. CX Institutional grew its holdings in shares of Brown & Brown by 3.1% during the third quarter. CX Institutional now owns 6,242 shares of the financial services provider’s stock worth $380,000 after purchasing an additional 189 shares in the last quarter. Delta Global Management LP increased its position in shares of Brown & Brown by 0.8% in the fourth quarter. Delta Global Management LP now owns 26,228 shares of the financial services provider’s stock worth $2,090,000 after purchasing an additional 200 shares during the last quarter. Financial Enhancement Group LLC raised its stake in Brown & Brown by 3.0% in the first quarter. Financial Enhancement Group LLC now owns 8,969 shares of the financial services provider’s stock valued at $607,000 after purchasing an additional 261 shares in the last quarter. Finally, CWC Advisors LLC. lifted its position in Brown & Brown by 3.5% during the first quarter. CWC Advisors LLC. now owns 8,484 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 289 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.4%

BRO stock traded up $0.27 on Monday, reaching $60.18. 693,814 shares of the company traded hands, compared to its average volume of 2,966,631. Brown & Brown, Inc. has a one year low of $53.81 and a one year high of $96.55. 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 company has a market cap of $20.14 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 1.84 and a beta of 0.60. The firm has a fifty day simple moving average of $68.72 and a 200-day simple moving average of $65.05.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, July 27th. The financial services provider reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the business posted $1.03 earnings per share. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. Research analysts anticipate that Brown & Brown, Inc. will post 4.5 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 12th were given a $0.1650 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $0.66 annualized dividend and a yield of 1.1%. Brown & Brown’s dividend payout ratio (DPR) is presently 20.82%.

Analysts Set New Price Targets

A number of research firms have weighed in on BRO. Morgan Stanley restated an “underweight” rating and set a $60.00 price target (up from $56.00) on shares of Brown & Brown in a research report on Wednesday, August 19th. Wells Fargo & Company reduced their price objective on Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 9th. Jefferies Financial Group reissued a “hold” rating on shares of Brown & Brown in a report on Wednesday, July 29th. The Goldman Sachs Group upped their target price on Brown & Brown from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings raised shares of Brown & Brown from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $76.80.

Brown & Brown Profile

Brown & Brown, Inc is an independent insurance brokerage, risk management and employee benefits firm headquartered in Daytona Beach, Florida. The company helps businesses, public entities and individuals identify, manage and transfer risk through insurance placement, risk consulting and related services.

Its offerings include property and casualty insurance, employee benefits, personal insurance, surety products, risk management services and specialized insurance programs. Brown & Brown also operates wholesale brokerage businesses that provide coverage solutions and access to insurance markets for retail agents and brokers, including products designed for specialty and hard-to-place risks.

Founded in 1939 by J.