Paul J. Krump Purchases 2,678 Shares of Brown & Brown, Inc. (NYSE:BRO) Stock

Key Points

• Paul J. Krump, Director of Brown & Brown, Inc., purchased 2,678 shares at an average price of $93.31 per share, increasing his holdings by over 100% to a total of 5,353 shares.
• Brown & Brown reported $1.03 earnings per share for the latest quarter, exceeding analysts' estimates, along with a 9.1% year-over-year revenue increase to $1.29 billion.
• The company declared a quarterly dividend of $0.15 per share, with a yield of 0.6% and a dividend payout ratio of 17.29%.

Brown & Brown, Inc. (NYSE:BRO - Get Free Report) Director Paul J. Krump acquired 2,678 shares of the stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $93.31 per share, for a total transaction of $249,884.18. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website.

Brown & Brown Trading Up 1.3%

NYSE:BRO traded up $1.20 during trading hours on Friday, reaching $93.71. The company's stock had a trading volume of 3,643,512 shares, compared to its average volume of 3,746,375. The firm has a market capitalization of $30.91 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 2.10 and a beta of 0.78. Brown & Brown, Inc. has a 1 year low of $90.38 and a 1 year 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. The firm has a 50-day simple moving average of $104.73 and a 200-day simple moving average of $110.75.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The company's revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 EPS. Research analysts expect that Brown & Brown, Inc. will post 4.18 EPS 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. Shareholders of record on Wednesday, August 13th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, August 13th. Brown & Brown's dividend payout ratio (DPR) is 17.29%.

Wall Street Analyst Weigh In

BRO has been the topic of several research reports. Truist Financial set a $120.00 price objective on shares of Brown & Brown in a research report on Wednesday, July 30th. The Goldman Sachs Group cut shares of Brown & Brown from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $126.00 to $119.00 in a research report on Tuesday, May 13th. BMO Capital Markets lowered their price objective on shares of Brown & Brown from $122.00 to $106.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Edward Jones initiated coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They set a "buy" rating on the stock. Finally, Jefferies Financial Group raised their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $113.23.

Institutional Investors Weigh In On Brown & Brown

A number of large investors have recently added to or reduced their stakes in the company. Phillips Wealth Planners LLC boosted its stake in Brown & Brown by 3.4% during the first quarter. Phillips Wealth Planners LLC now owns 2,659 shares of the financial services provider's stock worth $316,000 after acquiring an additional 88 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Brown & Brown by 26.8% in the first quarter. SBI Securities Co. Ltd. now owns 454 shares of the financial services provider's stock worth $56,000 after buying an additional 96 shares during the last quarter. Gateway Investment Advisers LLC raised its holdings in Brown & Brown by 2.3% in the first quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider's stock worth $536,000 after buying an additional 97 shares during the last quarter. Graypoint LLC raised its holdings in Brown & Brown by 3.3% in the first quarter. Graypoint LLC now owns 3,208 shares of the financial services provider's stock worth $399,000 after buying an additional 103 shares during the last quarter. Finally, NorthRock Partners LLC raised its holdings in Brown & Brown by 4.2% in the first quarter. NorthRock Partners LLC now owns 2,530 shares of the financial services provider's stock worth $315,000 after buying an additional 103 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

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.

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