Brown & Brown, Inc. $BRO Holdings Increased by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors increased its Brown & Brown stake by 1,424.5% in the third quarter, bringing its holdings to 40,583 shares worth approximately $2.7 million. Institutional investors collectively own 71.01% of the company.
• Analyst sentiment remains mixed: eight analysts rate the stock Buy, twelve Hold and one Sell, producing an overall Hold rating and average price target of $76. Several firms recently lowered their targets, although TD Cowen initiated coverage with a Buy rating.
• Brown & Brown’s latest quarterly revenue rose 30.4% year over year to $1.65 billion but missed consensus estimates, while EPS of $1.07 also narrowly missed expectations. The company pays a quarterly dividend of $0.165 per share, equivalent to a 1.0% annual yield.

Farther Finance Advisors LLC grew its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 1,424.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,583 shares of the financial services provider's stock after acquiring an additional 37,921 shares during the period. Farther Finance Advisors LLC's holdings in Brown & Brown were worth $2,734,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BRO. Union Bancaire Privee UBP SA purchased a new position in Brown & Brown in the first quarter worth $25,000. Allied Private Wealth LLC purchased a new stake in shares of Brown & Brown during the 2nd quarter worth $35,000. Continuum Advisory LLC purchased a new stake in shares of Brown & Brown during the 2nd quarter worth $34,000. Johnson Financial Group Inc. acquired a new position in shares of Brown & Brown during the 2nd quarter worth $37,000. Finally, Elevation Wealth Partners LLC grew its stake in shares of Brown & Brown by 175.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 619 shares of the financial services provider's stock worth $40,000 after purchasing an additional 394 shares during the period. Hedge funds and other institutional investors own 71.01% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Mizuho reduced their price objective on shares of Brown & Brown from $83.00 to $78.00 and set an "outperform" rating for the company in a research note on Wednesday, October 7th. Wells Fargo & Company reduced their price target on shares of Brown & Brown from $69.00 to $68.00 and set an "equal weight" rating for the company in a research report on Monday. Weiss Ratings raised Brown & Brown from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 19th. Morgan Stanley lowered their price target on Brown & Brown from $60.00 to $55.00 and set an "underweight" rating on the stock in a report on Tuesday, October 6th. Finally, BMO Capital Markets raised their price objective on Brown & Brown from $73.00 to $74.00 and gave the company a "market perform" rating in a research note on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $76.00.

Key Brown & Brown News

Here are the key news stories impacting Brown & Brown this week:

• Positive Sentiment: TD Cowen initiated a Buy rating and said Brown & Brown could be positioned for an upward re-rating. The bullish view supports the case that the insurance broker’s diversified platform and long-term growth prospects are not fully reflected in the share price. Brown & Brown scores new Buy rating at TD Cowen as stock set for re-rating upward
• Positive Sentiment: Brown & Brown acquired Cork-based O’Leary Life, expanding its insurance distribution operations in Ireland. Although financial terms were not disclosed, the transaction may strengthen the company’s international footprint and add future commission and fee revenue. Cork's O'Leary Life acquired by Brown & Brown
• Neutral Sentiment: Citizens JMP maintained a Market Outperform rating while reducing its price target to $75 from $78. The revised target still implies meaningful upside from the referenced share price, but the cut reflects more cautious expectations. Brown & Brown Given New $75.00 Price Target at Citizens JMP
• Neutral Sentiment: Wells Fargo lowered its target to $68 from $69 and kept an Equal Weight rating, indicating limited near-term conviction despite a target modestly above the referenced market price. Brown & Brown Stock Gets Price Target Cut from Wells Fargo
• Negative Sentiment: BofA cut its price target to $81 from $87 while retaining a Neutral rating, adding to evidence that analysts are tempering valuation expectations. BofA Adjusts Price Target on Brown & Brown
• Negative Sentiment: An analysis questioned whether insurer payments and commission trends may be masking weakness in Brown & Brown’s core operations. That concern could weigh on sentiment, particularly after the company’s latest quarterly revenue missed consensus expectations despite strong year-over-year growth. Are Insurer Payments Hiding Weakness in Its Core Business?

Brown & Brown Stock Performance

Shares of BRO opened at $63.69 on Tuesday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.58. The stock has a market cap of $21.31 billion, a P/E ratio of 20.09, a PEG ratio of 1.87 and a beta of 0.60. The company has a 50-day moving average of $67.57 and a two-hundred day moving average of $64.85. Brown & Brown, Inc. has a 12-month low of $53.81 and a 12-month high of $95.69.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.71 billion. During the same period last year, the company earned $1.03 EPS. The firm's revenue for the quarter was up 30.4% on a year-over-year basis. As a group, research analysts predict that Brown & Brown, Inc. will post 4.50 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 12th were issued a dividend of $0.1650 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, August 12th. Brown & Brown's dividend payout ratio is 20.82%.

Brown & Brown Profile

Brown & Brown, Inc is an independent insurance brokerage, risk management and employee benefits firm headquartered in Daytona Beach, Florida. The company helps businesses, public entities and individuals identify, manage and transfer risk through insurance placement, risk consulting and related services.

Its offerings include property and casualty insurance, employee benefits, personal insurance, surety products, risk management services and specialized insurance programs. Brown & Brown also operates wholesale brokerage businesses that provide coverage solutions and access to insurance markets for retail agents and brokers, including products designed for specialty and hard-to-place risks.

Founded in 1939 by J.

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