Quantum Capital Management LLC NJ Increases Stock Position in Brown & Brown, Inc. $BRO

Quantum Capital Management LLC NJ lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 148.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 649,855 shares of the financial services provider’s stock after purchasing an additional 388,059 shares during the quarter. Brown & Brown accounts for 6.0% of Quantum Capital Management LLC NJ’s holdings, making the stock its 7th largest position. Quantum Capital Management LLC NJ’s holdings in Brown & Brown were worth $51,793,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Basepoint Wealth LLC bought a new position in shares of Brown & Brown during the fourth quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new position in shares of Brown & Brown during the second quarter worth approximately $30,000. Board of the Pension Protection Fund bought a new position in shares of Brown & Brown during the fourth quarter worth approximately $40,000. Maseco LLP bought a new position in Brown & Brown in the fourth quarter valued at approximately $60,000. Finally, eCIO Inc. bought a new position in Brown & Brown in the fourth quarter valued at approximately $67,000. 71.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director H Palmer Proctor, Jr. bought 2,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were purchased at an average price of $57.10 per share, for a total transaction of $114,200.00. Following the completion of the transaction, the director directly owned 47,621 shares of the company’s stock, valued at approximately $2,719,159.10. This represents a 4.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 13.13% of the stock is owned by corporate insiders.

Brown & Brown Price Performance

Shares of NYSE:BRO opened at $59.96 on Friday. Brown & Brown, Inc. has a one year low of $53.81 and a one year high of $111.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market cap of $20.32 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 2.76 and a beta of 0.63. The firm has a 50 day simple moving average of $61.11 and a 200 day simple moving average of $69.85.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the business posted $1.29 earnings per share. The company’s quarterly revenue was up 35.4% on a year-over-year basis. Research analysts predict that Brown & Brown, Inc. will post 4.51 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were given a $0.165 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.66 dividend on an annualized basis and a yield of 1.1%. Brown & Brown’s dividend payout ratio (DPR) is currently 21.22%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Brown & Brown from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 21st. JPMorgan Chase & Co. decreased their price objective on shares of Brown & Brown from $91.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Citigroup assumed coverage on shares of Brown & Brown in a research note on Thursday, May 21st. They issued a “market outperform” rating on the stock. Truist Financial decreased their price objective on shares of Brown & Brown from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Finally, Citizens Jmp assumed coverage on shares of Brown & Brown in a research note on Thursday, May 21st. They issued a “market outperform” rating and a $70.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $78.44.

Brown & Brown Company Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.