21,730 Shares in Brown & Brown, Inc. $BRO Bought by AG Campbell Advisory LLC

Key Points

• AG Campbell Advisory LLC bought 21,730 shares of Brown & Brown in the fourth quarter, a position worth about $1.73 million and representing 0.6% of its portfolio.
• Brown & Brown reported better-than-expected quarterly results, with EPS of $1.39 versus $1.36 expected and revenue of $1.90 billion, up 35.4% year over year.
• The stock has drawn mixed analyst sentiment: the consensus rating remains Hold, with an average price target of $78.44, while Brown & Brown also recently paid a quarterly dividend of $0.165 per share.

AG Campbell Advisory LLC purchased a new stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,730 shares of the financial services provider's stock, valued at approximately $1,732,000. Brown & Brown accounts for approximately 0.6% of AG Campbell Advisory LLC's portfolio, making the stock its 19th largest holding.

A number of other institutional investors have also made changes to their positions in BRO. Darwin Wealth Management LLC acquired a new stake in shares of Brown & Brown during the 2nd quarter worth approximately $30,000. Basepoint Wealth LLC acquired a new stake in Brown & Brown during the fourth quarter worth $27,000. DV Equities LLC bought a new stake in Brown & Brown in the 4th quarter valued at $33,000. Board of the Pension Protection Fund acquired a new position in shares of Brown & Brown in the 4th quarter valued at $40,000. Finally, Maseco LLP bought a new position in shares of Brown & Brown during the 4th quarter worth about $60,000. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Trading Down 0.2%

NYSE BRO opened at $59.00 on Friday. Brown & Brown, Inc. has a 12 month low of $53.81 and a 12 month high of $111.10. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $20.00 billion, a PE ratio of 18.97, a P/E/G ratio of 2.72 and a beta of 0.63. The stock has a 50-day simple moving average of $60.38 and a 200 day simple moving average of $69.11.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $1.89 billion. During the same period in the previous year, the firm posted $1.29 EPS. The company's revenue for the quarter was up 35.4% on a year-over-year basis. Research analysts forecast that Brown & Brown, Inc. will post 4.51 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, May 11th. Brown & Brown's dividend payout ratio is presently 21.22%.

Analysts Set New Price Targets

A number of research analysts have commented on BRO shares. Citizens Jmp assumed coverage on shares of Brown & Brown in a research note on Thursday, May 21st. They set a "market outperform" rating and a $70.00 price target for the company. Keefe, Bruyette & Woods cut their target price on Brown & Brown from $74.00 to $72.00 and set a "market perform" rating for the company in a research report on Wednesday, April 29th. Barclays decreased their price target on Brown & Brown from $80.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. Mizuho dropped their price objective on Brown & Brown from $85.00 to $84.00 and set an "outperform" rating for the company in a research note on Monday, April 13th. Finally, Morgan Stanley reduced their target price 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. Five equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $78.44.

Insider Activity

In other Brown & Brown news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was purchased at an average cost of $57.10 per share, for a total transaction of $114,200.00. Following the acquisition, the director owned 47,621 shares in the company, valued at approximately $2,719,159.10. The trade was a 4.38% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.13% of the stock is owned by company insiders.

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.

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