M Holdings Securities Inc. Makes New Investment in Brown & Brown, Inc. $BRO

Key Points

• M Holdings Securities bought a new 35,738-share stake in Brown & Brown during the third quarter, valued at approximately $2.18 million. Institutional investors and hedge funds own about 71% of the company’s shares.
• Analysts’ consensus rating is Hold, with an average price target of $75.47; ratings include one Strong Buy, six Buys, 13 Holds and one Sell.
• Brown & Brown’s latest quarterly results narrowly missed EPS and revenue estimates, though revenue rose 7.4% year over year. The company raised its quarterly dividend from $0.165 to $0.18 per share.

M Holdings Securities Inc. purchased a new stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 35,738 shares of the financial services provider's stock, valued at approximately $2,176,000.

A number of other large investors have also recently bought and sold shares of the business. Westside Investment Management Inc. lifted its stake in shares of Brown & Brown by 84.7% in the 3rd quarter. Westside Investment Management Inc. now owns 399 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 183 shares during the period. Continuum Advisory LLC bought a new stake in shares of Brown & Brown during the 2nd quarter valued at about $34,000. Allied Private Wealth LLC acquired a new stake in Brown & Brown during the second quarter worth approximately $35,000. Johnson Financial Group Inc. acquired a new stake in Brown & Brown during the second quarter worth approximately $37,000. Finally, Manchester Capital Management LLC grew its stake in Brown & Brown by 853.3% during the third quarter. Manchester Capital Management LLC now owns 572 shares of the financial services provider's stock worth $38,000 after purchasing an additional 512 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BRO has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Brown & Brown from $80.00 to $83.00 and gave the company a "neutral" rating in a research note on Thursday, October 1st. Citigroup reduced their price objective on shares of Brown & Brown from $79.00 to $76.00 and set a "neutral" rating for the company in a research report on Wednesday, October 28th. Mizuho reduced their price objective on shares of Brown & Brown from $83.00 to $78.00 and set an "outperform" rating for the company in a research report on Wednesday, October 7th. Barclays lowered their price objective on shares of Brown & Brown from $76.00 to $71.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 7th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Brown & Brown in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Brown & Brown presently has an average rating of "Hold" and an average price target of $75.47.

Brown & Brown Price Performance

BRO stock opened at $70.89 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.96 and a quick ratio of 1.96. The company's 50-day moving average is $66.95 and its 200-day moving average is $66.64. The stock has a market capitalization of $23.51 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 2.42 and a beta of 0.52. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $82.57.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its earnings results on Monday, October 26th. 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 net margin of 17.63% and a return on equity of 13.29%. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. The business's quarterly revenue was up 7.4% on a year-over-year basis. Equities research analysts expect that Brown & Brown, Inc. will post 4.44 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 11th. Shareholders of record on Wednesday, November 4th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. This is a boost from Brown & Brown's previous quarterly dividend of $0.1650. The ex-dividend date of this dividend is Wednesday, November 4th. Brown & Brown's payout ratio is 22.78%.

About Brown & Brown

Brown & Brown, Inc is an insurance brokerage and risk management company that helps businesses, public entities and individuals assess and manage risk. Its services include arranging property and casualty insurance, employee benefits and personal insurance, as well as providing risk management and related services.

The company serves clients through retail insurance operations, national insurance programs, wholesale brokerage and insurance-related services. It operates primarily in the United States and also serves clients in international markets.

Founded in 1939 in Daytona Beach, Florida, Brown & Brown has grown through organic expansion and acquisitions.

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