Brown & Brown, Inc. $BRO Shares Acquired by Running Oak Capital LLC

Key Points

• Running Oak Capital LLC increased its position in Brown & Brown, Inc. by 8.2% during the second quarter, now holding 152,040 shares valued at approximately $16.9 million.
• Analysts' consensus rating for Brown & Brown is currently a "Hold," with a target price averaging $112.08, according to various research notes.
• Brown & Brown recently announced a quarterly dividend of $0.15 per share, with a payout ratio of approximately 17.29%.

Running Oak Capital LLC lifted its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 8.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,040 shares of the financial services provider's stock after purchasing an additional 11,550 shares during the quarter. Brown & Brown comprises 1.9% of Running Oak Capital LLC's holdings, making the stock its 21st largest position. Running Oak Capital LLC owned approximately 0.05% of Brown & Brown worth $16,857,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Phillips Wealth Planners LLC boosted its holdings in shares of Brown & Brown by 3.4% in the 1st quarter. Phillips Wealth Planners LLC now owns 2,659 shares of the financial services provider's stock valued at $316,000 after acquiring an additional 88 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in Brown & Brown by 26.8% during the first quarter. SBI Securities Co. Ltd. now owns 454 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 96 shares during the period. Gateway Investment Advisers LLC boosted its holdings in 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 valued at $536,000 after purchasing an additional 97 shares during the last quarter. Graypoint LLC grew its position in Brown & Brown by 3.3% during the 1st quarter. Graypoint LLC now owns 3,208 shares of the financial services provider's stock worth $399,000 after purchasing an additional 103 shares during the period. Finally, NorthRock Partners LLC raised its stake in shares of Brown & Brown by 4.2% during the 1st 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. Hedge funds and other institutional investors own 71.01% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on BRO shares. Weiss Ratings restated a "buy (b-)" rating on shares of Brown & Brown in a research note on Saturday, September 27th. 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 report on Tuesday, July 29th. Keefe, Bruyette & Woods cut their target price on shares of Brown & Brown from $104.00 to $87.00 and set an "underperform" rating for the company in a report on Thursday, July 31st. Argus reiterated a "hold" rating on shares of Brown & Brown in a research note on Thursday, July 31st. Finally, Citigroup assumed coverage on shares of Brown & Brown in a report on Wednesday, August 13th. They set a "buy" rating and a $112.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Brown & Brown presently has a consensus rating of "Hold" and an average target price of $112.08.

Insider Activity at Brown & Brown

In other news, Director Paul J. Krump purchased 2,678 shares of the stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $93.31 per share, with a total value of $249,884.18. Following the completion of the purchase, the director directly owned 5,353 shares of the company's stock, valued at approximately $499,488.43. The trade was a 100.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bronislaw Edmund Masojada acquired 1,000 shares of Brown & Brown stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $91.44 per share, with a total value of $91,440.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at $457,200. The trade was a 25.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 17.02% of the company's stock.

Brown & Brown Price Performance

Brown & Brown stock opened at $95.03 on Monday. The company's fifty day moving average price is $94.21 and its 200 day moving average price is $105.66. Brown & Brown, Inc. has a 1 year low of $89.99 and a 1 year high of $125.68. The stock has a market capitalization of $31.35 billion, a P/E ratio of 27.39, a P/E/G ratio of 2.15 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.72 and a current ratio of 6.72.

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

Brown & Brown Announces Dividend

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

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.

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