S Bank Fund Management Ltd Invests $992,000 in Brown & Brown, Inc. (NYSE:BRO)

Key Points

• S Bank Fund Management Ltd invested $992,000 in Brown & Brown, Inc. by acquiring 7,974 shares during the first quarter, reflecting growing interest among institutional investors in the company.
• Brown & Brown recently declared a quarterly dividend of $0.15 per share, with an ex-dividend date set for August 13th, representing an annualized yield of 0.6%.
• The company's recent earnings report showed $1.03 EPS, exceeding estimates and indicating a 9.1% year-over-year revenue growth, with predictions of 4.18 EPS for the current fiscal year.

S Bank Fund Management Ltd acquired a new position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 7,974 shares of the financial services provider's stock, valued at approximately $992,000.

Several other large investors have also recently bought and sold shares of the stock. Bank Pictet & Cie Europe AG acquired a new stake in Brown & Brown during the 4th quarter worth approximately $907,000. Capital Fund Management S.A. acquired a new position in Brown & Brown during the 4th quarter worth about $2,990,000. Rockefeller Capital Management L.P. lifted its holdings in Brown & Brown by 10.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 20,811 shares of the financial services provider's stock worth $2,123,000 after buying an additional 1,986 shares during the period. Mariner LLC lifted its holdings in Brown & Brown by 5.9% during the 4th quarter. Mariner LLC now owns 60,382 shares of the financial services provider's stock worth $6,160,000 after buying an additional 3,361 shares during the period. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Brown & Brown during the 4th quarter worth about $348,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Director Paul J. Krump purchased 2,678 shares of the firm's stock in a transaction dated 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 completion of the purchase, the director owned 5,353 shares in the company, valued at approximately $499,488.43. This represents a 100.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bronislaw Edmund Masojada purchased 1,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average cost 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 of the company's stock, valued at approximately $457,200. This represents a 25.00% increase in their position. The disclosure for this purchase can be found here. 17.02% of the stock is currently owned by company insiders.

Brown & Brown Trading Up 0.2%

BRO stock traded up $0.22 during mid-day trading on Friday, reaching $95.35. The company had a trading volume of 3,943,622 shares, compared to its average volume of 3,787,552. The company has a debt-to-equity ratio of 0.64, a current ratio of 6.72 and a quick ratio of 6.72. The firm has a 50 day moving average of $103.09 and a 200 day moving average of $110.38. Brown & Brown, Inc. has a 12 month low of $90.38 and a 12 month high of $125.68. The company has a market capitalization of $31.45 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 2.16 and a beta of 0.78.

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

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Wednesday, August 13th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.6%. The ex-dividend date is Wednesday, August 13th. Brown & Brown's dividend payout ratio (DPR) is currently 17.29%.

Wall Street Analyst Weigh In

BRO has been the topic of a number of recent analyst reports. Argus reissued a "hold" rating on shares of Brown & Brown in a research note on Thursday, July 31st. Bank of America upgraded Brown & Brown from a "neutral" rating to a "buy" rating and increased their target price for the stock from $126.00 to $130.00 in a research report on Wednesday, July 30th. Raymond James Financial reaffirmed an "outperform" rating and issued a $120.00 price target (down previously from $125.00) on shares of Brown & Brown in a report on Monday, August 4th. Morgan Stanley reduced their target price on Brown & Brown from $120.00 to $109.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. Finally, The Goldman Sachs Group cut Brown & Brown from a "buy" rating to a "neutral" rating and reduced their target price for the company from $126.00 to $119.00 in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $112.93.

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.