Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Savant Capital LLC

Savant Capital LLC increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 15,687 shares of the financial services provider’s stock after purchasing an additional 727 shares during the period. Savant Capital LLC’s holdings in Brown & Brown were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norden Group LLC acquired a new position in shares of Brown & Brown during the fourth quarter worth about $258,000. Penobscot Investment Management Company Inc. raised its stake in shares of Brown & Brown by 9.0% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 18,453 shares of the financial services provider’s stock worth $1,312,000 after buying an additional 1,525 shares in the last quarter. Choreo LLC acquired a new stake in shares of Brown & Brown in the 4th quarter valued at approximately $1,840,000. Gilbert & Cook Inc. boosted its stake in shares of Brown & Brown by 6.3% in the fourth quarter. Gilbert & Cook Inc. now owns 10,889 shares of the financial services provider’s stock valued at $774,000 after buying an additional 646 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC grew its holdings in Brown & Brown by 2.6% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 6,316 shares of the financial services provider’s stock worth $449,000 after acquiring an additional 158 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the sale, the chairman now owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.02% of the stock is owned by insiders.

Brown & Brown Stock Up 0.8 %

BRO opened at $83.52 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market capitalization of $23.82 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 2.26 and a beta of 0.79. The business has a 50-day moving average of $84.18 and a two-hundred day moving average of $77.54. Brown & Brown, Inc. has a 12 month low of $61.71 and a 12 month high of $87.99.

Brown & Brown (NYSE:BRO) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 EPS. On average, research analysts expect that Brown & Brown, Inc. will post 3.62 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be issued a $0.13 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.52 dividend on an annualized basis and a yield of 0.62%. Brown & Brown’s dividend payout ratio is currently 16.00%.

Wall Street Analysts Forecast Growth

BRO has been the subject of several recent analyst reports. StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a research note on Sunday, March 17th. Raymond James lifted their price objective on Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. UBS Group upped their target price on Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Monday, January 29th. The Goldman Sachs Group upgraded shares of Brown & Brown from a “neutral” rating to a “buy” rating and lowered their price target for the company from $84.00 to $83.00 in a research report on Monday, January 8th. Finally, Bank of America downgraded Brown & Brown from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $80.00 to $86.00 in a research report on Wednesday, March 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Brown & Brown has a consensus rating of “Hold” and a consensus target price of $87.30.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.