Securian Asset Management Inc. Sells 369 Shares of Brown & Brown, Inc. (NYSE:BRO)

Securian Asset Management Inc. cut its position in Brown & Brown, Inc. (NYSE:BRO) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,505 shares of the financial services provider’s stock after selling 369 shares during the period. Securian Asset Management Inc.’s holdings in Brown & Brown were worth $1,207,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in shares of Brown & Brown during the 1st quarter worth about $32,000. Alaska Permanent Fund Corp acquired a new position in shares of Brown & Brown during the 1st quarter worth approximately $36,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Brown & Brown by 174.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 348 shares in the last quarter. First PREMIER Bank acquired a new stake in shares of Brown & Brown in the 1st quarter valued at approximately $40,000. Finally, Intelligent Financial Strategies bought a new position in shares of Brown & Brown in the first quarter valued at $45,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Buying and Selling

In other Brown & Brown news, EVP Julie Turpin sold 3,350 shares of the firm’s stock in a transaction 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 transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.32, for a total transaction of $250,800.00. Following the sale, the chief financial officer now owns 88,445 shares in the company, valued at $8,872,802.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Julie Turpin sold 3,350 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $89.92, for a total transaction of $301,232.00. Following the completion of the sale, the executive vice president now owns 23,597 shares of the company’s stock, valued at $2,121,842.24. The disclosure for this sale can be found here. 17.02% of the stock is currently owned by corporate insiders.

Brown & Brown Stock Down 0.7 %

Shares of BRO stock traded down $0.69 on Monday, hitting $99.63. The stock had a trading volume of 360,466 shares, compared to its average volume of 1,262,635. Brown & Brown, Inc. has a 12-month low of $66.73 and a 12-month high of $103.16. The stock has a market cap of $28.42 billion, a price-to-earnings ratio of 30.71, a price-to-earnings-growth ratio of 2.47 and a beta of 0.82. The business has a 50 day moving average of $93.42 and a 200 day moving average of $87.36. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.88 by $0.05. The firm had revenue of $1.18 billion during 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%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. As a group, analysts expect that Brown & Brown, Inc. will post 3.67 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th will be paid a $0.13 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.52 dividend on an annualized basis and a yield of 0.52%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Wall Street Analyst Weigh In

A number of brokerages have commented on BRO. Royal Bank of Canada increased their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Bank of America raised Brown & Brown from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $91.00 to $101.00 in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. UBS Group increased their price target on shares of Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company raised shares of Brown & Brown from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $94.00 to $112.00 in a report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $99.20.

Brown & Brown 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.