Brown & Brown, Inc. $BRO Shares Acquired by Sciencast Management LP

Key Points

• Sciencast Management LP increased its holdings in Brown & Brown, Inc. by 62.9% during the first quarter, now owning 29,821 shares valued at approximately $3.71 million.
• The stock's market capitalization stands at $31.24 billion, with a price-to-earnings ratio of 27.30 and a 12-month price range from $90.38 to $125.68.
• Recent analyst ratings include a shift by Raymond James to “outperform” with a price target of $120.00, while seven analysts rated it as a “Buy” and one as a “Sell.”

Sciencast Management LP increased its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 62.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,821 shares of the financial services provider's stock after purchasing an additional 11,512 shares during the quarter. Brown & Brown makes up about 0.9% of Sciencast Management LP's portfolio, making the stock its 2nd biggest position. Sciencast Management LP's holdings in Brown & Brown were worth $3,710,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of BRO. Bank Pictet & Cie Europe AG bought a new position in Brown & Brown in the fourth quarter worth approximately $907,000. Ameriprise Financial Inc. grew its stake in Brown & Brown by 5.0% in the fourth quarter. Ameriprise Financial Inc. now owns 589,118 shares of the financial services provider's stock worth $60,093,000 after purchasing an additional 28,127 shares in the last quarter. Cary Street Partners Financial LLC bought a new position in Brown & Brown in the fourth quarter worth approximately $54,000. Cetera Investment Advisers grew its stake in Brown & Brown by 2.5% in the fourth quarter. Cetera Investment Advisers now owns 36,280 shares of the financial services provider's stock worth $3,701,000 after purchasing an additional 885 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Brown & Brown by 22.7% in the fourth quarter. Deutsche Bank AG now owns 1,431,562 shares of the financial services provider's stock worth $146,048,000 after purchasing an additional 265,179 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Insider Buying and Selling at Brown & Brown

In related news, Director Bronislaw Edmund Masojada acquired 1,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average cost of $91.44 per share, for a total transaction of $91,440.00. Following the completion of the purchase, the director owned 5,000 shares of the company's stock, valued at approximately $457,200. This represents a 25.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul J. Krump acquired 2,678 shares of the stock in a transaction dated Friday, August 8th. The shares were bought at an average price 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. This trade represents a 100.11% increase in their position. The disclosure for this purchase can be found here. Insiders own 17.02% of the company's stock.

Brown & Brown Stock Down 0.7%

NYSE BRO traded down $0.63 on Friday, hitting $93.61. The stock had a trading volume of 1,463,640 shares, compared to its average volume of 2,233,684. The business's fifty day moving average price is $98.00 and its 200 day moving average price is $108.47. The company has a debt-to-equity ratio of 0.64, a current ratio of 6.72 and a quick ratio of 6.72. Brown & Brown, Inc. has a 52-week low of $90.38 and a 52-week high of $125.68. The stock has a market cap of $30.88 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 2.14 and a beta of 0.81.

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

Brown & Brown Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BRO. Wells Fargo & Company cut Brown & Brown from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $104.00 to $101.00 in a research note on Wednesday, August 13th. Argus reissued a "hold" rating on shares of Brown & Brown in a report on Thursday, July 31st. Raymond James Financial reissued an "outperform" rating and set a $120.00 price objective (down from $125.00) on shares of Brown & Brown in a report on Monday, August 4th. Keefe, Bruyette & Woods cut their price objective on shares of Brown & Brown from $104.00 to $87.00 and set an "underperform" rating on the stock in a report on Thursday, July 31st. Finally, Truist Financial set a $120.00 price objective on shares of Brown & Brown in a report on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Brown & Brown presently has a consensus rating of "Hold" and a consensus price target of $112.64.

Brown & Brown 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.