Brown & Brown, Inc. $BRO Stock Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 546.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,704 shares of the financial services provider’s stock after buying an additional 21,730 shares during the period. Frank Rimerman Advisors LLC’s holdings in Brown & Brown were worth $1,719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BRO. Vontobel Holding Ltd. increased its position in Brown & Brown by 21,112.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,285,489 shares of the financial services provider’s stock valued at $78,286,000 after acquiring an additional 1,279,429 shares during the period. TD Waterhouse Canada Inc. boosted its position in Brown & Brown by 29,629.1% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 122,484 shares of the financial services provider’s stock worth $7,459,000 after acquiring an additional 122,072 shares during the period. Cyndeo Wealth Partners LLC boosted its position in Brown & Brown by 386.7% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 81,985 shares of the financial services provider’s stock worth $5,444,000 after acquiring an additional 65,141 shares during the period. Pension & Wealth Management Advisors Inc. acquired a new position in Brown & Brown during the 3rd quarter worth $126,000. Finally, NFSG Corp bought a new position in shares of Brown & Brown in the third quarter worth $394,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BRO. Raymond James Financial reissued an “outperform” rating on shares of Brown & Brown in a research note on Friday, June 26th. Citigroup restated a “market outperform” rating on shares of Brown & Brown in a research note on Monday, October 12th. Jefferies Financial Group restated a “hold” rating on shares of Brown & Brown in a research note on Wednesday, July 29th. Barclays reduced their price objective on shares of Brown & Brown from $76.00 to $71.00 and set an “equal weight” rating for the company in a report on Wednesday, October 7th. Finally, Oppenheimer assumed coverage on shares of Brown & Brown in a research report on Wednesday, October 7th. They issued an “outperform” rating and a $73.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Brown & Brown presently has an average rating of “Hold” and an average price target of $76.00.

Brown & Brown Trading Up 2.1%

Brown & Brown stock opened at $69.42 on Friday. Brown & Brown, Inc. has a 12-month low of $53.81 and a 12-month high of $90.46. 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 stock has a market capitalization of $23.23 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60. The firm has a 50 day simple moving average of $67.21 and a 200-day simple moving average of $64.92.

Brown & Brown (NYSE:BRO) last announced 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 return on equity of 13.17% and a net margin of 17.75%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the firm earned $1.03 EPS. Brown & Brown’s revenue for the quarter was up 30.4% on a year-over-year basis. As a group, equities research analysts expect that Brown & Brown, Inc. will post 4.49 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 12th were paid a dividend of $0.1650 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 Wednesday, August 12th. Brown & Brown’s dividend payout ratio (DPR) is presently 20.82%.

Brown & Brown Company 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.