Ironvine Capital Partners LLC Has $10.12 Million Stock Holdings in Brown & Brown, Inc. $BRO

Ironvine Capital Partners LLC boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 509.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 157,805 shares of the financial services provider's stock after purchasing an additional 131,928 shares during the period. Ironvine Capital Partners LLC's holdings in Brown & Brown were worth $10,123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in shares of Brown & Brown during the 2nd quarter worth about $355,000. Benjamin Edwards Inc. grew its stake in shares of Brown & Brown by 60.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 95,538 shares of the financial services provider's stock valued at $6,129,000 after buying an additional 35,948 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Brown & Brown by 5.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 22,738 shares of the financial services provider's stock worth $1,459,000 after buying an additional 1,204 shares during the last quarter. Wedbush Securities Inc. increased its holdings in Brown & Brown by 12.9% in the second quarter. Wedbush Securities Inc. now owns 15,181 shares of the financial services provider's stock worth $974,000 after buying an additional 1,732 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co acquired a new stake in Brown & Brown in the second quarter valued at approximately $282,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays boosted their target price on shares of Brown & Brown from $72.00 to $76.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 7th. UBS Group reaffirmed a "neutral" rating and issued a $73.00 price objective (up from $65.00) on shares of Brown & Brown in a research note on Wednesday, July 8th. The Goldman Sachs Group upped their price objective on shares of Brown & Brown from $62.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, July 1st. Citizens Jmp increased their target price on shares of Brown & Brown from $70.00 to $78.00 and gave the stock a "market outperform" rating in a research report on Friday, July 10th. Finally, Weiss Ratings upgraded Brown & Brown from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 19th. 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's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $76.80.

Brown & Brown Trading Down 0.3%

NYSE:BRO opened at $71.92 on Wednesday. Brown & Brown, Inc. has a 12 month low of $53.81 and a 12 month high of $97.15. The firm has a market cap of $24.07 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 2.22 and a beta of 0.58. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. The company's 50 day moving average is $69.56 and its 200-day moving average is $65.85.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the company posted $1.03 earnings per share. Brown & Brown's quarterly revenue was up 30.4% on a year-over-year basis. Equities analysts anticipate 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. Shareholders of record on Wednesday, August 12th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Brown & Brown's payout ratio is currently 20.82%.

Brown & Brown 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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