Brown & Brown, Inc. $BRO Shares Acquired by Aptus Capital Advisors LLC

Key Points

• Aptus Capital Advisors LLC significantly increased its stake in Brown & Brown, Inc. by 94.1% during the 1st quarter, owning 9,318 shares valued at approximately $1.16 million.
• Brown & Brown reported $1.03 earnings per share for the last quarter, exceeding expectations, and a 9.1% year-over-year revenue increase to $1.29 billion.
• The company's annual dividend yield is currently at 0.6%, with a quarterly dividend of $0.15 per share, reflecting a payout ratio of 17.29%.

Aptus Capital Advisors LLC increased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 94.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,318 shares of the financial services provider's stock after purchasing an additional 4,517 shares during the quarter. Aptus Capital Advisors LLC's holdings in Brown & Brown were worth $1,159,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BRO. GAMMA Investing LLC grew its holdings in Brown & Brown by 13,974.9% during the 1st quarter. GAMMA Investing LLC now owns 1,112,758 shares of the financial services provider's stock valued at $138,427,000 after buying an additional 1,104,852 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Brown & Brown by 172.5% in the 1st quarter. Handelsbanken Fonder AB now owns 1,314,434 shares of the financial services provider's stock worth $163,516,000 after purchasing an additional 832,100 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Brown & Brown by 9,262.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 687,095 shares of the financial services provider's stock worth $70,097,000 after purchasing an additional 679,756 shares during the period. Nuveen LLC purchased a new position in shares of Brown & Brown in the 1st quarter worth approximately $72,895,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Brown & Brown by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 30,501,119 shares of the financial services provider's stock worth $3,794,339,000 after purchasing an additional 560,980 shares during the period. Hedge funds and other institutional investors own 71.01% of the company's stock.

Insider Buying and Selling at Brown & Brown

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

Brown & Brown Stock Up 0.2%

Shares of NYSE:BRO traded up $0.2060 on Friday, reaching $96.6060. The company had a trading volume of 1,593,830 shares, compared to its average volume of 3,771,684. Brown & Brown, Inc. has a 52-week low of $90.38 and a 52-week high of $125.68. The firm's 50 day simple moving average is $102.09 and its 200-day simple moving average is $110.12. The company has a current ratio of 6.72, a quick ratio of 6.72 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $31.86 billion, a PE ratio of 27.84, a PEG ratio of 2.20 and a beta of 0.78.

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

Brown & Brown Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BRO. Wall Street Zen cut Brown & Brown from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. BMO Capital Markets dropped their target price on Brown & Brown from $122.00 to $106.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Barclays decreased their price target on Brown & Brown from $111.00 to $108.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 29th. Morgan Stanley decreased their price target on Brown & Brown from $109.00 to $105.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. Finally, Truist Financial set a $120.00 price target on Brown & Brown in a research note on Wednesday, July 30th. Seven research 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. According to data from MarketBeat.com, Brown & Brown has an average rating of "Hold" and a consensus price target of $112.64.

Brown & Brown Company Profile

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.