Yousif Capital Management LLC Buys 130,709 Shares of Brown & Brown, Inc. $BRO

Yousif Capital Management LLC boosted its stake in Brown & Brown, Inc. (NYSE:BRO) by 124.8% in the third quarter, Holdings Channel.com reports. The fund owned 235,457 shares of the financial services provider’s stock after buying an additional 130,709 shares during the quarter. Yousif Capital Management LLC’s holdings in Brown & Brown were worth $15,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Brown & Brown in the second quarter valued at $1,418,571,000. Principal Financial Group Inc. increased its position in shares of Brown & Brown by 1.6% during the first quarter. Principal Financial Group Inc. now owns 15,608,720 shares of the financial services provider’s stock worth $1,017,847,000 after purchasing an additional 246,172 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Brown & Brown during the second quarter worth about $266,941,000. Bank of America Corp DE increased its position in shares of Brown & Brown by 45.2% during the first quarter. Bank of America Corp DE now owns 3,623,179 shares of the financial services provider’s stock worth $236,268,000 after purchasing an additional 1,128,417 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Brown & Brown by 5.1% in the 1st quarter. Royal Bank of Canada now owns 3,569,784 shares of the financial services provider’s stock valued at $232,786,000 after purchasing an additional 173,320 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Price Performance

BRO stock traded down $1.51 on Friday, reaching $72.97. 2,499,774 shares of the company’s stock were exchanged, compared to its average volume of 2,215,480. The stock has a fifty day moving average of $67.25 and a 200-day moving average of $65.14. Brown & Brown, Inc. has a twelve month low of $53.81 and a twelve month high of $89.26. The firm has a market cap of $24.42 billion, a PE ratio of 23.02, a P/E/G ratio of 2.32 and a beta of 0.60. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 earnings per share (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 business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The company’s revenue was up 30.4% compared to the same quarter last year. As a group, equities analysts predict that Brown & Brown, Inc. will post 4.49 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 11th. Stockholders of record on Wednesday, November 4th will be paid a dividend of $0.18 per share. This is a boost from Brown & Brown’s previous quarterly dividend of $0.1650. The ex-dividend date of this dividend is Wednesday, November 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Brown & Brown’s dividend payout ratio is currently 20.82%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings raised Brown & Brown from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. Truist Financial set a $90.00 target price on shares of Brown & Brown in a report on Wednesday, July 29th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Brown & Brown in a research note on Wednesday, July 29th. Citigroup reissued a “market outperform” rating on shares of Brown & Brown in a report on Monday, October 12th. Finally, The Goldman Sachs Group raised their price objective on shares of Brown & Brown from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $76.00.

About Brown & Brown

Brown & Brown, Inc is an insurance brokerage and risk management company headquartered in Daytona Beach, Florida. The company helps businesses, public entities, individuals and other organizations identify, manage and transfer risk by arranging insurance coverage and providing related advisory services.

Its operations include retail insurance brokerage, national programs, wholesale brokerage and services. Brown & Brown offers property and casualty insurance, employee benefits, personal insurance, surety and other specialized coverage.