Sequoia Financial Advisors LLC Has $1.09 Million Stock Position in Brown & Brown, Inc. $BRO

Key Points

• Sequoia Financial Advisors LLC increased its stake in Brown & Brown, owning $1.09 million worth of shares after a 58.5% boost during the second quarter.
• Institutions and hedge funds own 71.01% of Brown & Brown's stock, with recent investments from Vanguard Group and Principal Financial Group.
• Brown & Brown announced a quarterly dividend of $0.15 per share, representing an annualized yield of 0.7% and a payout ratio of 17.29%.

Sequoia Financial Advisors LLC boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 58.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,832 shares of the financial services provider's stock after buying an additional 3,630 shares during the period. Sequoia Financial Advisors LLC's holdings in Brown & Brown were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Brown & Brown by 1.9% during the first quarter. Vanguard Group Inc. now owns 30,501,119 shares of the financial services provider's stock valued at $3,794,339,000 after buying an additional 560,980 shares during the period. Principal Financial Group Inc. raised its position in Brown & Brown by 0.3% during the first quarter. Principal Financial Group Inc. now owns 12,940,046 shares of the financial services provider's stock valued at $1,609,742,000 after buying an additional 38,078 shares during the period. Parnassus Investments LLC acquired a new position in Brown & Brown during the first quarter valued at $899,139,000. Invesco Ltd. raised its position in Brown & Brown by 8.3% during the first quarter. Invesco Ltd. now owns 4,120,135 shares of the financial services provider's stock valued at $512,545,000 after buying an additional 316,519 shares during the period. Finally, Royal Bank of Canada raised its position in Brown & Brown by 6.3% during the first quarter. Royal Bank of Canada now owns 3,063,741 shares of the financial services provider's stock valued at $381,129,000 after buying an additional 181,315 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Paul J. Krump purchased 2,678 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $93.31 per share, for a total transaction of $249,884.18. Following the purchase, the director owned 5,353 shares in the company, valued at $499,488.43. The trade was a 100.11% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 shares were bought at an average price of $91.44 per share, with a total value of $91,440.00. Following the purchase, the director owned 5,000 shares in the company, valued at $457,200. This represents a 25.00% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 17.02% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Argus reissued a "hold" rating on shares of Brown & Brown in a research report on Thursday, July 31st. Wall Street Zen raised Brown & Brown from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. Raymond James Financial reaffirmed an "outperform" rating and issued a $120.00 target price (down from $125.00) on shares of Brown & Brown in a research report on Monday, August 4th. Bank of America raised Brown & Brown from a "neutral" rating to a "buy" rating and upped their target price for the stock from $126.00 to $130.00 in a research report on Wednesday, July 30th. Finally, Barclays dropped their target price on Brown & Brown from $108.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $109.92.

Brown & Brown Stock Performance

BRO opened at $87.79 on Friday. The company has a market cap of $28.96 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. The stock has a 50-day moving average of $94.26 and a 200-day moving average of $103.92. Brown & Brown, Inc. has a 52-week low of $87.26 and a 52-week high of $125.68. 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 (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, topping the consensus estimate of $0.99 by $0.04. The company 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 firm's revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.93 EPS. As a group, equities research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

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

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.

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