DekaBank Deutsche Girozentrale Grows Stock Holdings in Brown & Brown, Inc. $BRO

Key Points

• DekaBank Deutsche Girozentrale increased its stake in Brown & Brown, Inc. by 3.4%, holding 260,347 shares worth approximately $28.56 million.
• Brown & Brown has announced a quarterly dividend of $0.165, with an annualized yield of 0.7%, reflecting an increase from the previous dividend of $0.15.
• Analysts have mixed opinions on Brown & Brown's stock, with seven rating it as a Buy and an average price target of $109.92, while some have downgraded their ratings recently.

DekaBank Deutsche Girozentrale grew its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,347 shares of the financial services provider's stock after purchasing an additional 8,508 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.09% of Brown & Brown worth $28,564,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of BRO. GAMMA Investing LLC lifted its stake in Brown & Brown by 13.1% in the 1st quarter. GAMMA Investing LLC now owns 8,945 shares of the financial services provider's stock worth $1,113,000 after purchasing an additional 1,039 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Brown & Brown by 11.7% during the 1st quarter. Blue Trust Inc. now owns 1,002 shares of the financial services provider's stock worth $125,000 after buying an additional 105 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Brown & Brown by 22.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,603 shares of the financial services provider's stock worth $2,314,000 after buying an additional 3,351 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Brown & Brown by 8.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 101,448 shares of the financial services provider's stock worth $12,620,000 after buying an additional 8,070 shares during the last quarter. Finally, Moran Wealth Management LLC increased its holdings in shares of Brown & Brown by 282.8% during the 1st quarter. Moran Wealth Management LLC now owns 111,317 shares of the financial services provider's stock worth $13,848,000 after buying an additional 82,234 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BRO shares. Truist Financial set a $120.00 price target on shares of Brown & Brown in a report on Wednesday, July 30th. BMO Capital Markets cut their price target on shares of Brown & Brown from $122.00 to $106.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Weiss Ratings downgraded shares of Brown & Brown from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Argus restated a "hold" rating on shares of Brown & Brown in a report on Thursday, July 31st. Finally, Citigroup assumed coverage on shares of Brown & Brown in a report on Wednesday, August 13th. They issued a "buy" rating and a $112.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Brown & Brown has an average rating of "Hold" and an average price target of $109.92.

Brown & Brown Stock Up 1.0%

Brown & Brown stock opened at $89.14 on Thursday. Brown & Brown, Inc. has a fifty-two week low of $86.79 and a fifty-two week high of $125.68. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.72 and a current ratio of 6.72. The firm has a 50 day moving average price of $93.85 and a 200 day moving average price of $103.23. The company has a market capitalization of $29.40 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 1.99 and a beta of 0.79.

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

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.7%. This is a positive change from Brown & Brown's previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, November 5th. Brown & Brown's payout ratio is presently 17.29%.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Director Paul J. Krump purchased 2,678 shares of the company's stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $93.31 per share, for a total transaction 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. The trade was a 100.11% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bronislaw Edmund Masojada purchased 1,000 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was acquired at an average price of $91.44 per share, with a total value of $91,440.00. Following the purchase, the director owned 5,000 shares of the company's stock, valued at approximately $457,200. This represents a 25.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 17.02% of the company's stock.

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.

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