Equitable Trust Co. Has $1.47 Million Position in Brown & Brown, Inc. $BRO

Key Points

• Equitable Trust Co. increased its holdings in Brown & Brown, Inc. by 56.3%, acquiring an additional 4,776 shares, bringing its total investment to $1.47 million.
• Brown & Brown has a market capitalization of $31.29 billion and reported earnings per share (EPS) of $1.03 for the last quarter, exceeding analysts' estimates.
• The company declared a quarterly dividend of $0.15 per share, reflecting an annual yield of 0.6% and a payout ratio of 17.29%.

Equitable Trust Co. grew its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 56.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,258 shares of the financial services provider's stock after acquiring an additional 4,776 shares during the period. Equitable Trust Co.'s holdings in Brown & Brown were worth $1,470,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BRO. Farther Finance Advisors LLC grew its holdings in Brown & Brown by 8.5% during the 1st quarter. Farther Finance Advisors LLC now owns 3,118 shares of the financial services provider's stock worth $387,000 after acquiring an additional 243 shares during the period. GAMMA Investing LLC grew its holdings in Brown & Brown by 13.1% during the 1st quarter. GAMMA Investing LLC now owns 8,945 shares of the financial services provider's stock worth $1,113,000 after acquiring an additional 1,039 shares during the period. Fifth Third Bancorp grew its holdings in Brown & Brown by 7.1% during the 1st quarter. Fifth Third Bancorp now owns 6,807 shares of the financial services provider's stock worth $847,000 after acquiring an additional 450 shares during the period. Ritholtz Wealth Management acquired a new stake in Brown & Brown during the 1st quarter worth about $255,000. Finally, Acropolis Investment Management LLC acquired a new stake in Brown & Brown during the 1st quarter worth about $105,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Brown & Brown

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

Brown & Brown Price Performance

BRO stock opened at $94.86 on Wednesday. The company has a market capitalization of $31.29 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 2.14 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.72 and a current ratio of 6.72. Brown & Brown, Inc. has a 52-week low of $89.99 and a 52-week high of $125.68. The business has a 50-day simple moving average of $94.44 and a two-hundred day simple moving average of $104.49.

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. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Brown & Brown had a return on equity of 15.10% and a net margin of 19.89%.The company's quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. Research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 13th were paid 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 yield of 0.6%. Brown & Brown's payout ratio is 17.29%.

Analysts Set New Price Targets

A number of brokerages have weighed in on BRO. Morgan Stanley decreased their price target on Brown & Brown from $105.00 to $100.00 and set an "equal weight" rating for the company in a report on Tuesday, October 7th. Keefe, Bruyette & Woods reduced their target price on Brown & Brown from $104.00 to $87.00 and set an "underperform" rating for the company in a research note on Thursday, July 31st. BMO Capital Markets reduced their target price on Brown & Brown from $122.00 to $106.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Citigroup started coverage on Brown & Brown in a research note on Wednesday, August 13th. They issued a "buy" rating and a $112.00 target price for the company. Finally, Truist Financial set a $120.00 target price on Brown & Brown in a research note on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $109.92.

About Brown & Brown

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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