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

Lido Advisors LLC increased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 1,129.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 250,142 shares of the financial services provider’s stock after buying an additional 229,801 shares during the quarter. Lido Advisors LLC owned 0.08% of Brown & Brown worth $16,863,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BRO. Keybank National Association OH raised its stake in Brown & Brown by 31.4% during the third quarter. Keybank National Association OH now owns 507,271 shares of the financial services provider’s stock worth $31,232,000 after acquiring an additional 121,085 shares in the last quarter. Gables Capital Management Inc. lifted its holdings in shares of Brown & Brown by 43.4% in the third quarter. Gables Capital Management Inc. now owns 958 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 290 shares during the last quarter. New York Life Investment Management LLC lifted its holdings in shares of Brown & Brown by 417.9% in the third quarter. New York Life Investment Management LLC now owns 209,934 shares of the financial services provider’s stock worth $13,987,000 after acquiring an additional 169,399 shares during the last quarter. AlphaCore Capital LLC boosted its stake in shares of Brown & Brown by 531.0% in the 3rd quarter. AlphaCore Capital LLC now owns 28,942 shares of the financial services provider’s stock valued at $1,928,000 after purchasing an additional 24,355 shares in the last quarter. Finally, Running Oak Capital LLC boosted its stake in shares of Brown & Brown by 3.2% in the 3rd quarter. Running Oak Capital LLC now owns 178,743 shares of the financial services provider’s stock valued at $10,885,000 after purchasing an additional 5,498 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Trading Down 0.7%

Shares of BRO stock opened at $71.35 on Thursday. Brown & Brown, Inc. has a twelve month low of $53.81 and a twelve month high of $82.57. The stock’s fifty day simple moving average is $66.93 and its 200 day simple moving average is $66.56. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $23.67 billion, a P/E ratio of 22.58, a P/E/G ratio of 2.36 and a beta of 0.52.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 26th. The financial services provider reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.76 billion. Brown & Brown had a net margin of 17.63% and a return on equity of 13.29%. Brown & Brown’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 4.44 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 11th. Stockholders of record on Wednesday, November 4th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.1650. The ex-dividend date was Wednesday, November 4th. Brown & Brown’s dividend payout ratio (DPR) is presently 22.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citizens Jmp decreased their price target on shares of Brown & Brown from $78.00 to $75.00 and set a “market outperform” rating on the stock in a report on Monday, October 12th. Oppenheimer assumed coverage on shares of Brown & Brown in a research report on Wednesday, October 7th. They set an “outperform” rating and a $73.00 price objective for the company. BMO Capital Markets increased their price objective on shares of Brown & Brown from $73.00 to $74.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Jefferies Financial Group restated a “hold” rating on shares of Brown & Brown in a research report on Wednesday, July 29th. Finally, UBS Group cut their target price on shares of Brown & Brown from $73.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $75.47.

About Brown & Brown

Brown & Brown, Inc. is an insurance brokerage and risk management company that helps businesses, public entities and individuals assess and manage risk. Its services include arranging property and casualty insurance, employee benefits and personal insurance, as well as providing risk management and related services. The company serves clients through retail insurance operations, national insurance programs, wholesale brokerage and insurance-related services. It operates primarily in the United States and also serves clients in international markets.