U.S. Capital Wealth Advisors LLC Makes New $3.41 Million Investment in Brown & Brown, Inc. $BRO

Key Points

• U.S. Capital Wealth Advisors LLC invested approximately $3.41 million in Brown & Brown, Inc. by acquiring 30,749 shares, indicating strong institutional interest in the company.
• Brown & Brown's earnings performance topped analyst expectations with reported earnings of $1.03 per share, surpassing the consensus estimate of $0.99.
• Recent analyst ratings show a mix of upgrades and downgrades, with an average rating of "Hold" and a price target of $112.64 for the stock.

U.S. Capital Wealth Advisors LLC bought a new position in Brown & Brown, Inc. (NYSE:BRO - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 30,749 shares of the financial services provider's stock, valued at approximately $3,409,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bares Capital Management Inc. purchased a new position in shares of Brown & Brown during the 1st quarter worth $26,000. Sunbelt Securities Inc. grew its holdings in shares of Brown & Brown by 581.8% during the 4th 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. Optimum Investment Advisors purchased a new position in shares of Brown & Brown during the 1st quarter worth $31,000. SouthState Corp grew its holdings in shares of Brown & Brown by 188.6% during the 1st quarter. SouthState Corp now owns 254 shares of the financial services provider's stock worth $32,000 after purchasing an additional 166 shares during the period. Finally, Bruce G. Allen Investments LLC grew its holdings in shares of Brown & Brown by 1,129.6% during the 2nd 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 period. 71.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BRO has been the subject of a number of research analyst reports. Morgan Stanley lowered their price target on Brown & Brown from $109.00 to $105.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Wall Street Zen upgraded Brown & Brown from a "sell" rating to a "hold" rating in a report on Saturday. Bank of America upgraded Brown & Brown from a "neutral" rating to a "buy" rating and increased their price target for the stock from $126.00 to $130.00 in a report on Wednesday, July 30th. Argus reiterated a "hold" rating on shares of Brown & Brown in a report on Thursday, July 31st. Finally, BMO Capital Markets lowered their price target on Brown & Brown from $122.00 to $106.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $112.64.

Insider Activity at Brown & Brown

In other news, Director Paul J. Krump purchased 2,678 shares of the business's stock in a transaction on Friday, August 8th. The shares were bought at an average price of $93.31 per share, with a total value of $249,884.18. Following the completion of the transaction, the director directly owned 5,353 shares in the company, valued at approximately $499,488.43. This represents a 100.11% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bronislaw Edmund Masojada purchased 1,000 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were purchased at an average cost of $91.44 per share, for a total transaction of $91,440.00. Following the transaction, the director owned 5,000 shares of the company's stock, valued at $457,200. This trade represents a 25.00% 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.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $92.62 on Tuesday. 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, Inc. has a fifty-two week low of $89.99 and a fifty-two week high of $125.68. The firm has a market capitalization of $30.55 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 2.07 and a beta of 0.80. The stock's 50-day simple moving average is $96.10 and its 200-day simple moving average is $107.26.

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

Brown & Brown Dividend Announcement

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

Brown & Brown Company 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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