Callan Family Office LLC Takes Position in Brown & Brown, Inc. $BRO

Callan Family Office LLC purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 18,986 shares of the financial services provider's stock, valued at approximately $1,218,000.

Other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in shares of Brown & Brown by 38.3% in the first quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider's stock valued at $4,132,000 after purchasing an additional 9,264 shares in the last quarter. Focus Partners Wealth lifted its position in Brown & Brown by 5.2% during the 1st quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider's stock valued at $1,387,000 after purchasing an additional 547 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Brown & Brown by 1,824.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 53,103 shares of the financial services provider's stock worth $5,888,000 after acquiring an additional 50,344 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Brown & Brown by 27.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the financial services provider's stock worth $116,000 after acquiring an additional 223 shares during the period. Finally, Cary Street Partners Financial LLC raised its position in shares of Brown & Brown by 60.9% during the 2nd quarter. Cary Street Partners Financial LLC now owns 933 shares of the financial services provider's stock valued at $103,000 after acquiring an additional 353 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BRO. UBS Group reaffirmed a "neutral" rating and issued a $73.00 price target (up from $65.00) on shares of Brown & Brown in a research note on Wednesday, July 8th. The Goldman Sachs Group boosted their price objective 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. Keefe, Bruyette & Woods upped their target price on shares of Brown & Brown from $72.00 to $74.00 and gave the company a "market perform" rating in a research note on Wednesday, July 8th. BMO Capital Markets increased their target price on shares of Brown & Brown from $73.00 to $74.00 and gave the stock a "market perform" rating in a report on Wednesday, July 29th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Brown & Brown in a research report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Brown & Brown currently has a consensus rating of "Hold" and an average price target of $76.80.

Brown & Brown Stock Performance

Shares of BRO stock opened at $72.89 on Monday. Brown & Brown, Inc. has a one year low of $53.81 and a one year high of $97.73. The stock has a market cap of $24.39 billion, a P/E ratio of 22.99, a P/E/G ratio of 3.63 and a beta of 0.59. The company has a fifty day moving average price of $67.66 and a two-hundred day moving average price of $65.75. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.01). The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.71 billion. Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%.Brown & Brown's quarterly revenue was up 30.4% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS. As a group, equities analysts predict that Brown & Brown, Inc. will post 4.5 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were given a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. Brown & Brown's dividend payout ratio is presently 20.82%.

Brown & Brown Company Profile

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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