Corient Private Wealth LP Makes New Investment in Brown & Brown, Inc. $BRO

Corient Private Wealth LP bought a new stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 41,768 shares of the financial services provider's stock, valued at approximately $2,679,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Union Bancaire Privee UBP SA purchased a new stake in Brown & Brown during the first quarter valued at $25,000. Basepoint Wealth LLC purchased a new position in Brown & Brown in the fourth quarter worth about $27,000. Darwin Wealth Management LLC purchased a new position in Brown & Brown in the second quarter worth about $30,000. DV Equities LLC bought a new stake in shares of Brown & Brown during the 4th quarter valued at about $33,000. Finally, Allied Private Wealth LLC bought a new stake in shares of Brown & Brown during the 2nd quarter valued at about $35,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Trading Down 0.3%

Shares of NYSE:BRO opened at $71.92 on Wednesday. The stock has a 50 day moving average of $69.56 and a 200 day moving average of $65.85. The company has a market cap of $24.07 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 2.22 and a beta of 0.58. Brown & Brown, Inc. has a 12-month low of $53.81 and a 12-month high of $97.15. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.58.

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

Brown & Brown Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BRO shares. BMO Capital Markets increased their price objective on shares of Brown & Brown from $73.00 to $74.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Brown & Brown from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 19th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Brown & Brown in a research note on Wednesday, July 29th. Citizens Jmp boosted their price objective on shares of Brown & Brown from $70.00 to $78.00 and gave the company a "market outperform" rating in a research report on Friday, July 10th. Finally, 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 research report on Wednesday, July 1st. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $76.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source