Brown & Brown, Inc. $BRO Holdings Boosted by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its stake in Brown & Brown by 93% during Q1, acquiring 4,042 additional shares, bringing its total holdings to 8,388 shares valued at $1.04 million.
• Director Paul J. Krump bought 2,678 shares at $93.31 each, increasing his ownership by over 100%, while another director also increased their holdings in the company.
• Brown & Brown recently declared a quarterly dividend of $0.15 per share, translating to an annual yield of 0.6% with a dividend payout ratio of 17.29%.

Vident Advisory LLC increased its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 93.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,388 shares of the financial services provider's stock after purchasing an additional 4,042 shares during the quarter. Vident Advisory LLC's holdings in Brown & Brown were worth $1,043,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BRO. Capital Investment Advisors LLC purchased a new stake in Brown & Brown in the first quarter worth approximately $1,929,000. GW&K Investment Management LLC lifted its stake in shares of Brown & Brown by 104.4% during the 1st quarter. GW&K Investment Management LLC now owns 419 shares of the financial services provider's stock worth $52,000 after purchasing an additional 214 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Brown & Brown by 7.1% during the first quarter. Fifth Third Bancorp now owns 6,807 shares of the financial services provider's stock worth $847,000 after purchasing an additional 450 shares during the period. Tandem Investment Advisors Inc. boosted its stake in shares of Brown & Brown by 2.5% in the first quarter. Tandem Investment Advisors Inc. now owns 764,709 shares of the financial services provider's stock worth $95,130,000 after acquiring an additional 18,677 shares during the last quarter. Finally, FORA Capital LLC purchased a new stake in Brown & Brown in the fourth quarter valued at $580,000. Institutional investors own 71.01% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on BRO shares. Argus reiterated a "hold" rating on shares of Brown & Brown in a report on Thursday, July 31st. The Goldman Sachs Group downgraded Brown & Brown from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $126.00 to $119.00 in a report on Tuesday, May 13th. Barclays decreased their price objective 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. Morgan Stanley lowered their price target on shares of Brown & Brown from $109.00 to $105.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Finally, Wells Fargo & Company cut shares of Brown & Brown from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $104.00 to $101.00 in a report on Wednesday, August 13th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Brown & Brown has an average rating of "Hold" and a consensus target price of $112.64.

Insider Activity

In other Brown & Brown news, Director Paul J. Krump acquired 2,678 shares of the business's stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $93.31 per share, with a total value of $249,884.18. Following the completion of the acquisition, the director owned 5,353 shares of the company's stock, valued at $499,488.43. This trade represents a 100.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bronislaw Edmund Masojada bought 1,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was bought 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. The trade was a 25.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 15.59% of the company's stock.

Brown & Brown Trading Up 0.2%

NYSE BRO traded up $0.21 during mid-day trading on Monday, hitting $95.00. The company's stock had a trading volume of 1,549,154 shares, compared to its average volume of 2,548,003. The stock's fifty day simple moving average is $99.49 and its two-hundred day simple moving average is $109.12. The firm has a market capitalization of $31.33 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 2.16 and a beta of 0.80. 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.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The financial services provider reported $1.03 earnings per share (EPS) 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 business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm earned $0.93 earnings per share. The firm's revenue was up 9.1% compared to the same quarter last year. Research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

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

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.