Wealthcare Advisory Partners LLC Has $2.92 Million Stock Holdings in Brown & Brown, Inc. $BRO

Wealthcare Advisory Partners LLC trimmed its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.4% in the second quarter, HoldingsChannel.com reports. The fund owned 26,367 shares of the financial services provider’s stock after selling 655 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Brown & Brown were worth $2,923,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Phillips Wealth Planners LLC lifted its position in Brown & Brown by 3.4% during the first quarter. Phillips Wealth Planners LLC now owns 2,659 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 88 shares during the period. SBI Securities Co. Ltd. lifted its holdings in shares of Brown & Brown by 26.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 454 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 96 shares during the period. Gateway Investment Advisers LLC boosted its position in shares of Brown & Brown by 2.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider’s stock worth $536,000 after acquiring an additional 97 shares in the last quarter. Graypoint LLC increased its stake in Brown & Brown by 3.3% in the first quarter. Graypoint LLC now owns 3,208 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 103 shares during the last quarter. Finally, NorthRock Partners LLC increased its stake in Brown & Brown by 4.2% in the first quarter. NorthRock Partners LLC now owns 2,530 shares of the financial services provider’s stock valued at $315,000 after acquiring an additional 103 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BRO shares. Truist Financial set a $120.00 target price on Brown & Brown in a report on Wednesday, July 30th. Wall Street Zen raised Brown & Brown from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Argus reiterated a “hold” rating on shares of Brown & Brown in a research report on Thursday, July 31st. Raymond James Financial reissued an “outperform” rating and issued a $120.00 target price (down previously from $125.00) on shares of Brown & Brown in a report on Monday, August 4th. Finally, Barclays reduced their price target on shares of Brown & Brown from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 29th. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $112.08.

Brown & Brown Stock Performance

Shares of BRO stock opened at $94.50 on Tuesday. The firm has a market capitalization of $31.17 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 2.15 and a beta of 0.79. The company has a current ratio of 6.72, a quick ratio of 6.72 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average price is $94.05 and its 200-day moving average price is $105.49. Brown & Brown, Inc. has a 12 month low of $89.99 and a 12 month high of $125.68.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, July 28th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the company earned $0.93 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Equities research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 13th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $0.60 annualized dividend and a dividend yield of 0.6%. Brown & Brown’s payout ratio is currently 17.29%.

Insiders Place Their Bets

In related news, Director Bronislaw Edmund Masojada purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was bought at an average price of $91.44 per share, with a total value of $91,440.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at approximately $457,200. This represents a 25.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul J. Krump acquired 2,678 shares of the stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $93.31 per share, with a total value of $249,884.18. Following the completion of the transaction, the director directly owned 5,353 shares of the company’s stock, valued at $499,488.43. The trade was a 100.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 15.59% of the company’s stock.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.