Quotient Wealth Partners LLC Boosts Stake in Brown & Brown, Inc. $BRO

Quotient Wealth Partners LLC boosted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 9.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,115 shares of the financial services provider’s stock after acquiring an additional 175 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Brown & Brown were worth $234,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Phillips Wealth Planners LLC boosted its holdings 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 buying an additional 88 shares in the last quarter. SBI Securities Co. Ltd. grew 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 valued at $56,000 after purchasing an additional 96 shares during the last quarter. Graypoint LLC increased its position in shares of Brown & Brown by 3.3% in the first quarter. Graypoint LLC now owns 3,208 shares of the financial services provider’s stock valued at $399,000 after buying an additional 103 shares in the last quarter. NorthRock Partners LLC raised its stake in shares of Brown & Brown by 4.2% during the 1st 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. Finally, Parallel Advisors LLC raised its stake in shares of Brown & Brown by 4.3% during the 2nd quarter. Parallel Advisors LLC now owns 2,508 shares of the financial services provider’s stock worth $278,000 after buying an additional 103 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Stock Performance

NYSE:BRO opened at $87.79 on Monday. The firm’s fifty day simple moving average is $94.26 and its 200 day simple moving average is $103.63. The firm has a market capitalization of $28.96 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.98 and a beta of 0.79. Brown & Brown, Inc. has a twelve month low of $87.26 and a twelve month high of $125.68. The company has a current ratio of 6.72, a quick ratio of 6.72 and a debt-to-equity ratio of 0.64.

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

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 13th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 13th. Brown & Brown’s dividend payout ratio is presently 17.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BRO shares. Truist Financial set a $120.00 price objective on shares of Brown & Brown in a research note on Wednesday, July 30th. Raymond James Financial restated an “outperform” rating and set a $120.00 price objective (down from $125.00) on shares of Brown & Brown in a research report on Monday, August 4th. Wall Street Zen raised Brown & Brown from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Wells Fargo & Company decreased their price objective on Brown & Brown from $101.00 to $98.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Finally, Morgan Stanley dropped their price objective on shares of Brown & Brown from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Brown & Brown currently has an average rating of “Hold” and an average price target of $109.92.

Insider Transactions at Brown & Brown

In other Brown & Brown news, Director Paul J. Krump acquired 2,678 shares of the company’s stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $93.31 per share, for a total transaction of $249,884.18. Following the acquisition, the director directly owned 5,353 shares of the company’s stock, valued at $499,488.43. This trade represents a 100.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bronislaw Edmund Masojada bought 1,000 shares of the business’s stock in a transaction on 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 transaction, the director owned 5,000 shares in the company, valued at $457,200. This represents a 25.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 15.59% of the company’s stock.

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.