SG Americas Securities LLC Raises Stock Holdings in Brown & Brown, Inc. $BRO

SG Americas Securities LLC boosted its position in Brown & Brown, Inc. (NYSE:BRO) by 50.2% in the first quarter, Holdings Channel.com reports. The firm owned 332,213 shares of the financial services provider’s stock after buying an additional 111,104 shares during the quarter. SG Americas Securities LLC’s holdings in Brown & Brown were worth $21,664,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Basepoint Wealth LLC purchased a new stake in shares of Brown & Brown in the 4th quarter worth about $27,000. Darwin Wealth Management LLC bought a new position in shares of Brown & Brown in the 2nd quarter worth about $30,000. DV Equities LLC purchased a new position in Brown & Brown during the 4th quarter valued at about $33,000. Board of the Pension Protection Fund purchased a new position in Brown & Brown during the 4th quarter valued at about $40,000. Finally, Maseco LLP bought a new stake in Brown & Brown during the fourth quarter worth about $60,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 2.7%

NYSE:BRO opened at $62.03 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a market cap of $21.03 billion, a P/E ratio of 19.95, a P/E/G ratio of 2.78 and a beta of 0.63. Brown & Brown, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $111.09. The firm has a 50-day simple moving average of $60.00 and a two-hundred day simple moving average of $68.62.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm 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 business’s revenue was up 35.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 earnings per share. Analysts predict that Brown & Brown, Inc. will post 4.51 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were paid a dividend of $0.165 per share. The ex-dividend date was Monday, May 11th. This represents a $0.66 dividend on an annualized basis and a yield of 1.1%. Brown & Brown’s dividend payout ratio (DPR) is presently 21.22%.

Insider Transactions at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was acquired at an average price of $57.10 per share, for a total transaction of $114,200.00. Following the purchase, the director owned 47,621 shares of the company’s stock, valued at approximately $2,719,159.10. This represents a 4.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 13.13% of the company’s stock.

Analyst Ratings Changes

BRO has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on shares of Brown & Brown from $91.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Royal Bank Of Canada dropped their price target on Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 29th. Barclays cut their price target on Brown & Brown from $80.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brown & Brown in a research report on Tuesday, June 9th. Finally, Truist Financial lowered their price objective on Brown & Brown from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and a consensus target price of $78.44.

Brown & Brown Company 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.