Triad Investment Management Has $4.62 Million Stock Holdings in Brown & Brown, Inc. $BRO

Key Points

• Triad Investment Management increased its Brown & Brown stake by 31% in the first quarter, buying 16,763 additional shares and bringing its total to 70,885 shares worth about $4.62 million.
• Several other institutional investors also boosted positions in the insurance brokerage, and institutional ownership stands at 71.01% of the company’s shares.
• Brown & Brown reported strong quarterly results, with earnings of $1.39 per share beating estimates and revenue of $1.90 billion topping expectations; analysts currently rate the stock Hold on average with a $78.62 price target.

Triad Investment Management raised its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 31.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,885 shares of the financial services provider's stock after buying an additional 16,763 shares during the quarter. Brown & Brown comprises 5.1% of Triad Investment Management's portfolio, making the stock its 4th biggest holding. Triad Investment Management's holdings in Brown & Brown were worth $4,622,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Brown & Brown in the fourth quarter worth $516,837,000. Capital International Investors purchased a new stake in Brown & Brown during the fourth quarter valued at $371,654,000. Van Lanschot Kempen Investment Management N.V. lifted its position in Brown & Brown by 132.8% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,538,584 shares of the financial services provider's stock valued at $361,725,000 after purchasing an additional 2,589,048 shares during the last quarter. Deutsche Bank AG lifted its position in Brown & Brown by 53.0% during the fourth quarter. Deutsche Bank AG now owns 3,929,461 shares of the financial services provider's stock valued at $313,178,000 after purchasing an additional 1,361,934 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Brown & Brown by 1,679.0% during the third quarter. AQR Capital Management LLC now owns 1,204,318 shares of the financial services provider's stock valued at $112,953,000 after purchasing an additional 1,136,623 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Brown & Brown from $72.00 to $74.00 and gave the stock a "market perform" rating in a report on Wednesday, July 8th. Mizuho increased their price target on shares of Brown & Brown from $74.00 to $81.00 and gave the company an "outperform" rating in a report on Thursday, July 9th. UBS Group reaffirmed a "neutral" rating and issued a $73.00 price target (up from $65.00) on shares of Brown & Brown in a report on Wednesday, July 8th. Raymond James Financial reiterated an "outperform" rating on shares of Brown & Brown in a research report on Friday, June 26th. Finally, Citigroup reissued an "outperform" rating on shares of Brown & Brown in a research note on Friday, July 10th. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $78.62.

Insiders Place Their Bets

In other news, Director H Palmer Proctor, Jr. acquired 2,000 shares of Brown & Brown stock in a transaction that occurred on Tuesday, May 5th. The shares were bought at an average cost of $57.10 per share, with a total value of $114,200.00. Following the transaction, the director directly owned 47,621 shares of the company's stock, valued at $2,719,159.10. This trade represents a 4.38% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 13.13% of the stock is owned by company insiders.

Brown & Brown Stock Down 3.5%

NYSE BRO opened at $66.53 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 52 week low of $53.81 and a 52 week high of $104.25. The firm has a market capitalization of $22.55 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 3.18 and a beta of 0.60. The company has a fifty day moving average of $61.63 and a two-hundred day moving average of $66.92.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The business's revenue for the quarter was up 35.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 earnings per share. On average, analysts predict that Brown & Brown, Inc. will post 4.5 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, May 11th. Brown & Brown's dividend payout ratio is presently 21.22%.

About Brown & Brown

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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