Brown & Brown, Inc. $BRO Stock Holdings Lifted by Whittier Trust Co.

Key Points

• Whittier Trust Co. increased its Brown & Brown stake by 9.1% in Q1, ending with 196,182 shares worth about $13.05 million.
• Brown & Brown reported better-than-expected Q1 earnings, posting $1.39 EPS on $1.90 billion in revenue, with revenue up 35.4% year over year.
• The company also paid a quarterly dividend of $0.165 per share, and analysts currently have a Hold consensus rating with a $78.25 average price target.

Whittier Trust Co. lifted its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 196,182 shares of the financial services provider's stock after acquiring an additional 16,310 shares during the quarter. Whittier Trust Co. owned approximately 0.06% of Brown & Brown worth $13,050,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Union Bancaire Privee UBP SA purchased a new stake in shares of Brown & Brown in the first quarter valued at $25,000. Basepoint Wealth LLC purchased a new position in shares of Brown & Brown during the fourth quarter valued at $27,000. Darwin Wealth Management LLC purchased a new position in shares of Brown & Brown during the second quarter valued at $30,000. DV Equities LLC acquired a new position in Brown & Brown during the fourth quarter valued at $33,000. Finally, Board of the Pension Protection Fund acquired a new position in Brown & Brown during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Insider Activity

In related news, Director H Palmer Proctor, Jr. acquired 2,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average price of $57.10 per share, with a total value of $114,200.00. Following the acquisition, the director owned 47,621 shares in the company, valued at approximately $2,719,159.10. The trade was a 4.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 13.13% of the company's stock.

Brown & Brown Stock Performance

BRO stock opened at $69.87 on Monday. The firm has a 50 day moving average of $59.70 and a two-hundred day moving average of $67.95. Brown & Brown, Inc. has a 12 month low of $53.81 and a 12 month high of $108.75. The company has a market capitalization of $23.68 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 3.22 and a beta of 0.60. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. Brown & Brown's revenue for the quarter was up 35.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. As a group, equities analysts anticipate that Brown & Brown, Inc. will post 4.52 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were given a $0.165 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. Brown & Brown's payout ratio is currently 21.22%.

Analysts Set New Price Targets

BRO has been the subject of a number of research reports. Truist Financial decreased their price objective on Brown & Brown from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. Citizens Jmp assumed coverage on shares of Brown & Brown in a research note on Thursday, May 21st. They set a "market outperform" rating and a $70.00 target price for the company. The Goldman Sachs Group boosted their price target on shares of Brown & Brown from $62.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, July 1st. UBS Group dropped their price target on shares of Brown & Brown from $81.00 to $65.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 9th. Finally, Wells Fargo & Company reduced their price objective on Brown & Brown from $72.00 to $69.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Brown & Brown has a consensus rating of "Hold" and a consensus target price of $78.25.

About Brown & Brown

Brown & Brown, Inc NYSE: BRO is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.

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