CW Advisors LLC Has $15.34 Million Position in Brown & Brown, Inc. $BRO

Key Points

• CW Advisors LLC reduced its stake in Brown & Brown, Inc. by 11.3%, selling 16,002 shares during the first quarter, leaving it with holdings worth approximately $15.3 million.
• Several large institutional investors, including Vanguard Group Inc. and Principal Financial Group Inc., have increased their positions in Brown & Brown, with Vanguard owning over $3.79 billion worth of shares.
• Recent analyst ratings reflect a range of opinions on the stock, with a consensus rating of “Hold” and an average price target of $112.64, while Brown & Brown stock has experienced a slight decline of 0.4% recently.

CW Advisors LLC lessened its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 11.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,781 shares of the financial services provider's stock after selling 16,002 shares during the quarter. CW Advisors LLC's holdings in Brown & Brown were worth $15,343,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. boosted its holdings in Brown & Brown by 534.1% in the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock worth $29,000 after purchasing an additional 235 shares during the period. Sunbelt Securities Inc. boosted its holdings in shares of Brown & Brown by 581.8% during the fourth 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 period. Optimum Investment Advisors acquired a new position in shares of Brown & Brown during the first quarter valued at $31,000. SouthState Corp boosted its holdings in shares of Brown & Brown by 188.6% during the first 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 period. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Brown & Brown during the first quarter valued at $45,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Insider Buying and Selling

In other Brown & Brown news, Director Paul J. Krump bought 2,678 shares of the company's stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $93.31 per share, for a total transaction of $249,884.18. Following the acquisition, the director directly owned 5,353 shares of the company's stock, valued at approximately $499,488.43. This trade represents a 100.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bronislaw Edmund Masojada acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average cost of $91.44 per share, for a total transaction of $91,440.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company's stock, valued at $457,200. This represents a 25.00% increase in their position. The disclosure for this purchase can be found here. 15.59% of the stock is owned by insiders.

Analyst Ratings Changes

BRO has been the subject of several analyst reports. Raymond James Financial reissued an "outperform" rating and set a $120.00 price target (down previously from $125.00) on shares of Brown & Brown in a report on Monday, August 4th. Morgan Stanley reduced their price objective on shares of Brown & Brown from $109.00 to $105.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Argus reaffirmed a "hold" rating on shares of Brown & Brown in a report on Thursday, July 31st. Truist Financial set a $120.00 price objective on shares of Brown & Brown in a report on Wednesday, July 30th. Finally, Barclays reduced their price objective on shares of Brown & Brown from $111.00 to $108.00 and set an "equal weight" rating for the company in a report on Tuesday, July 29th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $112.64.

Brown & Brown Trading Up 0.6%

Shares of BRO stock traded up $0.61 during trading hours on Wednesday, reaching $96.66. 591,449 shares of the stock traded hands, compared to its average volume of 2,570,611. Brown & Brown, Inc. has a 1-year low of $90.38 and a 1-year high of $125.68. The business has a fifty day moving average price of $101.64 and a 200 day moving average price of $109.94. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $31.88 billion, a PE ratio of 27.88, a PEG ratio of 2.20 and a beta of 0.78.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.04. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business earned $0.93 earnings per share. The firm's revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 13th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. Brown & Brown's payout ratio is currently 17.29%.

Brown & Brown Company 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.