Sepio Capital LP Sells 4,562 Shares of Brown & Brown, Inc. $BRO

Key Points

• Sepio Capital LP has reduced its stake in Brown & Brown, Inc. by 28.3%, now holding 11,582 shares valued at approximately $1.44 million.
• Brown & Brown's latest quarterly earnings reported an EPS of $1.03, beating expectations, with a revenue growth of 9.1% year-over-year.
• The company declared a quarterly dividend of $0.15 per share, translating to an annualized yield of 0.6% and a payout ratio of 17.29%.

Sepio Capital LP trimmed its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 28.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,582 shares of the financial services provider's stock after selling 4,562 shares during the period. Sepio Capital LP's holdings in Brown & Brown were worth $1,441,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bares Capital Management Inc. acquired a new stake in shares of Brown & Brown during the 1st quarter valued at $26,000. Sunbelt Securities Inc. lifted its position in shares of Brown & Brown by 581.8% during the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 256 shares during the last quarter. Optimum Investment Advisors acquired a new stake in shares of Brown & Brown during the 1st quarter valued at $31,000. SouthState Corp lifted its position in shares of Brown & Brown by 188.6% during the 1st quarter. SouthState Corp now owns 254 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 166 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Brown & Brown during the 1st quarter valued at $45,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Stock Down 2.0%

Brown & Brown stock traded down $1.86 during mid-day trading on Tuesday, hitting $93.49. 1,767,859 shares of the company's stock were exchanged, compared to its average volume of 2,241,969. 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 stock has a market cap of $30.84 billion, a P/E ratio of 26.94, a P/E/G ratio of 2.17 and a beta of 0.81. Brown & Brown, Inc. has a 1-year low of $90.38 and a 1-year high of $125.68. The stock has a 50 day moving average of $98.87 and a two-hundred day moving average of $108.90.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, July 28th. The financial services provider reported $1.03 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 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 prior year, the business posted $0.93 earnings per share. The business's quarterly revenue was up 9.1% on a year-over-year basis. As a group, analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

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 dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Wednesday, August 13th. Brown & Brown's dividend payout ratio is 17.29%.

Insider Transactions at Brown & Brown

In other news, Director Paul J. Krump purchased 2,678 shares of the firm's stock in a transaction on Friday, August 8th. The stock was bought at an average cost of $93.31 per share, for a total transaction of $249,884.18. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bronislaw Edmund Masojada purchased 1,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were purchased at an average price of $91.44 per share, with a total value of $91,440.00. Following the completion of the acquisition, the director directly owned 5,000 shares of the company's stock, valued at approximately $457,200. This trade represents a 25.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.59% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BRO has been the subject of a number of recent research reports. Wall Street Zen downgraded Brown & Brown from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. The Goldman Sachs Group downgraded Brown & Brown from a "buy" rating to a "neutral" rating and cut their price objective for the company from $126.00 to $119.00 in a research report on Tuesday, May 13th. BMO Capital Markets cut their target price on shares of Brown & Brown from $122.00 to $106.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Citigroup began coverage on shares of Brown & Brown in a research note on Wednesday, August 13th. They set a "buy" rating and a $112.00 target price on the stock. Finally, Barclays cut their target price on shares of Brown & Brown from $111.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 29th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Brown & Brown currently has an average rating of "Hold" and an average 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.