First Hawaiian Bank Boosts Holdings in Brown & Brown, Inc. (NYSE:BRO)

First Hawaiian Bank lifted its stake in Brown & Brown, Inc. (NYSE:BRO) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,967 shares of the financial services provider’s stock after buying an additional 599 shares during the period. First Hawaiian Bank’s holdings in Brown & Brown were worth $2,769,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in Brown & Brown by 43.0% during the 2nd quarter. GAMMA Investing LLC now owns 5,776 shares of the financial services provider’s stock worth $516,000 after purchasing an additional 1,738 shares during the last quarter. SRN Advisors LLC grew its position in Brown & Brown by 4.9% during the 1st quarter. SRN Advisors LLC now owns 11,706 shares of the financial services provider’s stock worth $1,025,000 after purchasing an additional 546 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Brown & Brown by 12.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider’s stock worth $21,855,000 after purchasing an additional 27,879 shares during the last quarter. Invst LLC purchased a new stake in shares of Brown & Brown in the first quarter valued at about $861,000. Finally, Atria Investments Inc boosted its holdings in shares of Brown & Brown by 19.0% in the first quarter. Atria Investments Inc now owns 23,701 shares of the financial services provider’s stock valued at $2,075,000 after acquiring an additional 3,780 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Brown & Brown

In related news, EVP Julie Turpin sold 3,350 shares of Brown & Brown stock in a transaction on Friday, June 7th. The shares were sold at an average price of $89.92, for a total transaction of $301,232.00. Following the transaction, the executive vice president now owns 23,597 shares in the company, valued at approximately $2,121,842.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.02% of the company’s stock.

Brown & Brown Trading Down 2.8 %

Shares of BRO traded down $2.84 during mid-day trading on Monday, reaching $98.38. The company had a trading volume of 1,382,156 shares, compared to its average volume of 1,271,739. The stock has a market cap of $28.06 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 2.51 and a beta of 0.82. The firm has a fifty day simple moving average of $92.29 and a 200-day simple moving average of $86.54. Brown & Brown, Inc. has a fifty-two week low of $66.73 and a fifty-two week high of $103.16. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. Brown & Brown’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the business earned $0.68 EPS. On average, sell-side analysts anticipate that Brown & Brown, Inc. will post 3.67 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th will be issued a dividend of $0.13 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.52 annualized dividend and a dividend yield of 0.53%. Brown & Brown’s payout ratio is 16.00%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Raymond James raised their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. UBS Group raised their price objective on shares of Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Truist Financial raised their price objective on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Company raised their price objective on shares of Brown & Brown from $88.00 to $94.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Brown & Brown has a consensus rating of “Hold” and an average price target of $97.40.

About Brown & Brown

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.