Brown & Brown, Inc. $BRO Stake Lifted by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Brown & Brown, Inc. by 91.9% during Q2, acquiring a total of 451,153 shares worth approximately $50 million.
• Brown & Brown recently reported a quarterly EPS of $1.03, exceeding analysts' expectations, with a 9.1% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.15 per share, reflecting a 0.6% yield, and its dividend payout ratio stands at 17.29%.

Robeco Institutional Asset Management B.V. raised its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 91.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 451,153 shares of the financial services provider's stock after buying an additional 216,049 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.16% of Brown & Brown worth $50,019,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bares Capital Management Inc. bought a new position in Brown & Brown in the 1st quarter worth about $26,000. ST Germain D J Co. Inc. grew its holdings in Brown & Brown by 298.5% in the 2nd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider's stock worth $30,000 after buying an additional 200 shares in the last quarter. Optimum Investment Advisors acquired a new stake in Brown & Brown in the 1st quarter valued at approximately $31,000. SouthState Corp boosted its position in Brown & Brown by 188.6% during the 1st quarter. SouthState Corp now owns 254 shares of the financial services provider's stock worth $32,000 after acquiring an additional 166 shares during the period. Finally, Bruce G. Allen Investments LLC grew its position in Brown & Brown by 1,129.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider's stock valued at $37,000 after buying an additional 305 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods dropped their price objective on Brown & Brown from $104.00 to $87.00 and set an "underperform" rating on the stock in a research note on Thursday, July 31st. Wall Street Zen upgraded shares of Brown & Brown from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Brown & Brown in a report on Saturday, September 27th. Raymond James Financial reissued an "outperform" rating and set a $120.00 target price (down from $125.00) on shares of Brown & Brown in a research note on Monday, August 4th. Finally, BMO Capital Markets decreased their price target on shares of Brown & Brown from $122.00 to $106.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $112.08.

Brown & Brown Stock Up 1.7%

NYSE:BRO opened at $95.03 on Friday. The business's fifty day moving average price is $94.21 and its 200 day moving average price is $105.85. The firm has a market capitalization of $31.35 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 2.11 and a beta of 0.79. The company has a current ratio of 6.72, a quick ratio of 6.72 and a debt-to-equity ratio of 0.64. Brown & Brown, Inc. has a 1-year low of $89.99 and a 1-year high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The financial services provider reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.04. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. Brown & Brown had a return on equity of 15.10% and a net margin of 19.89%.The business's quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $0.93 EPS. On average, sell-side analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal 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 $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, August 13th. Brown & Brown's dividend payout ratio is currently 17.29%.

Insider Buying and Selling

In other news, Director Bronislaw Edmund Masojada bought 1,000 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were bought at an average cost of $91.44 per share, with a total value of $91,440.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $457,200. This trade represents a 25.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul J. Krump purchased 2,678 shares of the business's 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 in the company, valued at approximately $499,488.43. This represents a 100.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. 17.02% of the stock is owned by corporate insiders.

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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