Mn Services Vermogensbeheer B.V. Grows Position in Brown & Brown, Inc. $BRO

Key Points

• Mn Services Vermogensbeheer B.V. has increased its stake in Brown & Brown, Inc. by 3.9% during the second quarter, now holding 91,000 shares valued at approximately $10.09 million.
• Brown & Brown recently reported quarterly earnings of $1.03 per share, surpassing analysts’ expectations of $0.99, and also revealed a year-over-year revenue increase of 9.1%.
• The company declared a quarterly dividend of $0.15 per share, reflecting a 0.7% dividend yield and a payout ratio of 17.29%.

Mn Services Vermogensbeheer B.V. increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,000 shares of the financial services provider's stock after acquiring an additional 3,400 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Brown & Brown were worth $10,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bares Capital Management Inc. purchased a new position in shares of Brown & Brown in the first quarter worth $26,000. Optimum Investment Advisors purchased a new position in shares of Brown & Brown in the first quarter valued at about $31,000. SouthState Corp raised its stake 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 last quarter. 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 worth $31,000 after purchasing an additional 256 shares during the period. Finally, Bruce G. Allen Investments LLC grew its stake in shares of Brown & Brown by 1,129.6% in the second quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider's stock worth $37,000 after purchasing an additional 305 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Down 0.5%

BRO traded down $0.48 during midday trading on Tuesday, reaching $92.12. The company's stock had a trading volume of 321,043 shares, compared to its average volume of 2,563,839. Brown & Brown, Inc. has a 1 year low of $89.99 and a 1 year high of $125.68. The stock's 50-day moving average is $96.10 and its 200-day moving average is $107.26. The firm has a market capitalization of $30.38 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 2.07 and a beta of 0.80. The company has a current ratio of 6.72, a quick ratio of 6.72 and a debt-to-equity ratio of 0.64.

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

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 13th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 13th. Brown & Brown's payout ratio is currently 17.29%.

Insider Transactions at Brown & Brown

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

Analyst Upgrades and Downgrades

A number of research firms have commented on BRO. Argus reaffirmed a "hold" rating on shares of Brown & Brown in a research report on Thursday, July 31st. Morgan Stanley reduced their target price on Brown & Brown from $109.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. Keefe, Bruyette & Woods dropped their price target 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 cut their price target on shares of Brown & Brown from $122.00 to $106.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Finally, Bank of America raised shares of Brown & Brown from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $126.00 to $130.00 in a research report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $112.64.

Brown & Brown 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.