Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC boosted its holdings in Brown & Brown, Inc. (NYSE:BROGet Rating) by 31.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,680 shares of the financial services provider’s stock after purchasing an additional 4,442 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Brown & Brown were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Clear Street Markets LLC grew its position in Brown & Brown by 407.3% during the second quarter. Clear Street Markets LLC now owns 487 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 391 shares during the period. Parkside Financial Bank & Trust grew its position in Brown & Brown by 259.0% during the second quarter. Parkside Financial Bank & Trust now owns 499 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 360 shares during the period. Quent Capital LLC grew its position in Brown & Brown by 82.2% during the second quarter. Quent Capital LLC now owns 503 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 227 shares during the period. Allworth Financial LP grew its position in Brown & Brown by 2,485.0% during the second quarter. Allworth Financial LP now owns 517 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 497 shares during the period. Finally, Destiny Wealth Partners LLC grew its position in Brown & Brown by 104.4% during the second quarter. Destiny Wealth Partners LLC now owns 558 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 285 shares during the period. 72.31% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Trading Up 1.2 %

NYSE:BRO opened at $58.63 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.89 and a current ratio of 1.89. Brown & Brown, Inc. has a one year low of $52.91 and a one year high of $74.00. The business’s 50-day simple moving average is $59.32 and its 200 day simple moving average is $60.23. The stock has a market cap of $16.61 billion, a price-to-earnings ratio of 26.53 and a beta of 0.74.

Brown & Brown (NYSE:BROGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.10). Brown & Brown had a net margin of 18.42% and a return on equity of 14.67%. The firm had revenue of $927.60 million for the quarter, compared to analyst estimates of $943.59 million. During the same quarter in the previous year, the company earned $0.58 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 2.25 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 16th. Shareholders of record on Wednesday, November 2nd were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, November 1st. This represents a $0.46 annualized dividend and a yield of 0.78%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.10. Brown & Brown’s dividend payout ratio is presently 20.81%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BRO shares. Raymond James lowered their price target on Brown & Brown from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Jefferies Financial Group upped their target price on Brown & Brown from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, October 7th. Royal Bank of Canada decreased their target price on Brown & Brown from $66.00 to $62.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 26th. UBS Group decreased their target price on Brown & Brown to $62.00 in a research report on Friday, November 4th. Finally, Wells Fargo & Company decreased their target price on Brown & Brown from $66.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 26th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $66.88.

Brown & Brown Profile

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Brown & Brown, Inc markets and sells insurance products and services in the United States, Bermuda, Canada, Ireland, the United Kingdom, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, loss control survey and analysis, consultancy, and claims processing services.

Further Reading

Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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