Caitlin John LLC Takes $1.43 Million Position in Brown & Brown, Inc. $BRO

Key Points

• Caitlin John LLC has acquired 12,917 shares of Brown & Brown, Inc., valued at approximately $1.43 million, making it the 23rd largest position in the firm's portfolio.
• Brown & Brown reported $1.03 earnings per share in its latest quarterly earnings, exceeding analysts' expectations of $0.99 and indicating a year-over-year revenue increase of 9.1%.
• The company declared a quarterly dividend of $0.15 per share, resulting in an annualized yield of 0.7%, with a current payout ratio of 17.29%.

Caitlin John LLC bought a new stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 12,917 shares of the financial services provider's stock, valued at approximately $1,432,000. Brown & Brown comprises about 1.3% of Caitlin John LLC's investment portfolio, making the stock its 23rd biggest holding.

Several other large investors have also added to or reduced their stakes in BRO. Phillips Wealth Planners LLC increased its stake in shares of Brown & Brown by 3.4% during the first quarter. Phillips Wealth Planners LLC now owns 2,659 shares of the financial services provider's stock valued at $316,000 after buying an additional 88 shares during the period. SBI Securities Co. Ltd. increased its position in Brown & Brown by 26.8% in the first quarter. SBI Securities Co. Ltd. now owns 454 shares of the financial services provider's stock worth $56,000 after buying an additional 96 shares in the last quarter. Gateway Investment Advisers LLC boosted its stake in shares of Brown & Brown by 2.3% in the first quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider's stock worth $536,000 after acquiring an additional 97 shares during the period. Graypoint LLC boosted its stake in shares of Brown & Brown by 3.3% in the first quarter. Graypoint LLC now owns 3,208 shares of the financial services provider's stock worth $399,000 after acquiring an additional 103 shares during the period. Finally, NorthRock Partners LLC boosted its stake in Brown & Brown by 4.2% during the first quarter. NorthRock Partners LLC now owns 2,530 shares of the financial services provider's stock valued at $315,000 after buying an additional 103 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

BRO has been the topic of several research reports. Keefe, Bruyette & Woods reduced their price objective on Brown & Brown from $104.00 to $87.00 and set an "underperform" rating on the stock in a report on Thursday, July 31st. Raymond James Financial reissued an "outperform" rating and issued a $120.00 price objective (down previously from $125.00) on shares of Brown & Brown in a report on Monday, August 4th. Truist Financial set a $120.00 price objective on Brown & Brown in a research note on Wednesday, July 30th. Wells Fargo & Company lowered Brown & Brown from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $104.00 to $101.00 in a research report on Wednesday, August 13th. Finally, Citigroup began coverage on Brown & Brown in a research note on Wednesday, August 13th. They set a "buy" rating and a $112.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $112.64.

Brown & Brown Trading Up 1.0%

Shares of NYSE BRO traded up $0.89 during trading on Monday, hitting $92.62. 3,422,322 shares of the company traded hands, compared to its average volume of 2,423,124. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $30.55 billion, a P/E ratio of 26.69, a P/E/G ratio of 2.07 and a beta of 0.80. The company has a 50-day moving average price of $96.10 and a 200-day moving average price of $107.26. Brown & Brown, Inc. has a 1 year low of $89.99 and a 1 year high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. Brown & Brown had a return on equity of 15.10% and a net margin of 19.89%.The company's revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 earnings per share. On average, equities analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 13th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Wednesday, August 13th. Brown & Brown's dividend payout ratio is 17.29%.

Insider Buying and Selling

In other Brown & Brown news, Director Paul J. Krump purchased 2,678 shares of the company's stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $93.31 per share, for a total transaction of $249,884.18. Following the purchase, the director directly owned 5,353 shares in the company, valued at $499,488.43. This trade represents a 100.11% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bronislaw Edmund Masojada purchased 1,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was bought at an average price of $91.44 per share, for a total transaction of $91,440.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $457,200. The trade was a 25.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.59% of the stock is owned by corporate insiders.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.