Brown & Brown, Inc. (NYSE:BRO) EVP Julie Turpin Sells 3,350 Shares of Stock

Brown & Brown, Inc. (NYSE:BROGet Free Report) EVP Julie Turpin sold 3,350 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $89.92, for a total value of $301,232.00. Following the completion of the sale, the executive vice president now directly owns 23,597 shares of the company’s stock, valued at approximately $2,121,842.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Brown & Brown Stock Performance

Shares of Brown & Brown stock opened at $90.28 on Friday. The business’s fifty day simple moving average is $85.66 and its 200 day simple moving average is $80.66. The firm has a market capitalization of $25.75 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82. Brown & Brown, Inc. has a 12 month low of $63.02 and a 12 month high of $91.70. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BROGet Free Report) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.07. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.22 billion. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. As a group, analysts anticipate that Brown & Brown, Inc. will post 3.61 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, May 3rd. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Institutional Investors Weigh In On Brown & Brown

A number of hedge funds and other institutional investors have recently modified their holdings of BRO. Headlands Technologies LLC bought a new position in Brown & Brown during the 1st quarter valued at approximately $32,000. Alaska Permanent Fund Corp bought a new position in Brown & Brown during the 1st quarter valued at approximately $36,000. Fortitude Family Office LLC bought a new position in Brown & Brown during the 4th quarter valued at approximately $31,000. First PREMIER Bank bought a new position in Brown & Brown during the 1st quarter valued at approximately $40,000. Finally, Park Place Capital Corp grew its holdings in shares of Brown & Brown by 166.5% during the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 318 shares during the period. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods raised their price objective on Brown & Brown from $80.00 to $82.00 and gave the company an “underperform” rating in a research note on Friday, May 3rd. Bank of America raised Brown & Brown from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $91.00 to $101.00 in a research note on Wednesday, May 22nd. Citigroup raised their target price on Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 31st. StockNews.com upgraded Brown & Brown from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th. Finally, Raymond James raised their target price on Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Brown & Brown has an average rating of “Hold” and an average target price of $89.40.

Read Our Latest Stock Analysis on Brown & Brown

About Brown & Brown

(Get Free Report)

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.

Further Reading

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