Brown & Brown, Inc. $BRO Holdings Increased by Yousif Capital Management LLC

Yousif Capital Management LLC increased its stake in Brown & Brown, Inc. (NYSE:BRO) by 124.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,457 shares of the financial services provider’s stock after acquiring an additional 130,709 shares during the period. Yousif Capital Management LLC owned approximately 0.07% of Brown & Brown worth $15,252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Equitable Trust Co. increased its holdings in Brown & Brown by 1.7% during the 1st quarter. Equitable Trust Co. now owns 10,901 shares of the financial services provider’s stock worth $711,000 after purchasing an additional 182 shares during the period. CX Institutional boosted its stake in shares of Brown & Brown by 3.1% in the 3rd quarter. CX Institutional now owns 6,242 shares of the financial services provider’s stock valued at $380,000 after buying an additional 189 shares during the period. Patton Fund Management Inc. boosted its stake in shares of Brown & Brown by 10.6% in the 1st quarter. Patton Fund Management Inc. now owns 3,123 shares of the financial services provider’s stock valued at $204,000 after buying an additional 299 shares during the period. Cetera Investment Advisers boosted its stake in shares of Brown & Brown by 0.9% in the 1st quarter. Cetera Investment Advisers now owns 36,804 shares of the financial services provider’s stock valued at $2,400,000 after buying an additional 311 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in shares of Brown & Brown by 39.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,288 shares of the financial services provider’s stock worth $83,000 after buying an additional 364 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Stock Down 2.0%

NYSE BRO traded down $1.51 during trading 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 market cap of $24.42 billion, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 2.32 and a beta of 0.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.11 and a current ratio of 2.11. The company has a 50 day moving average price of $67.25 and a two-hundred day moving average price of $65.14. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $89.26.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. 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. On average, equities research analysts anticipate that Brown & Brown, Inc. will post 4.49 EPS for the current fiscal year.

Brown & Brown Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BRO shares. TD Cowen assumed coverage on shares of Brown & Brown in a research note on Monday, October 12th. They set a “buy” rating and a $82.00 target price on the stock. UBS Group reaffirmed a “neutral” rating and issued a $73.00 target price (up from $65.00) on shares of Brown & Brown in a report on Wednesday, July 8th. Keefe, Bruyette & Woods upgraded shares of Brown & Brown from an “underperform” rating to an “outperform” rating and set a $77.00 price target for the company in a research note on Monday, October 12th. Oppenheimer initiated coverage on shares of Brown & Brown in a report on Wednesday, October 7th. They set an “outperform” rating and a $73.00 price target for the company. Finally, Citigroup reissued a “market outperform” rating on shares of Brown & Brown in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and an average target price of $76.00.

Brown & Brown Company Profile

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.