Mizuho Markets Americas LLC Has $243,000 Stock Holdings in Brown & Brown, Inc. $BRO

Mizuho Markets Americas LLC cut its holdings in Brown & Brown, Inc. (NYSE:BRO) by 80.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,192 shares of the financial services provider’s stock after selling 9,221 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Brown & Brown were worth $243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bares Capital Management Inc. acquired a new stake in shares of Brown & Brown in the first quarter valued at $26,000. Optimum Investment Advisors acquired a new stake in shares of Brown & Brown in the first quarter valued at $31,000. SouthState Corp increased its stake in shares of Brown & Brown by 188.6% in the first quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock valued at $32,000 after buying an additional 166 shares in the last quarter. ST Germain D J Co. Inc. lifted its stake in shares of Brown & Brown by 298.5% during the second quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 200 shares during the period. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of Brown & Brown by 1,129.6% during the second quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 305 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Price Performance

Shares of BRO opened at $82.46 on Wednesday. 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, Inc. has a 1 year low of $81.39 and a 1 year high of $125.68. The stock has a market cap of $27.20 billion, a P/E ratio of 24.69, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. The stock’s 50-day moving average price is $93.15 and its two-hundred day moving average price is $102.30.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. Brown & Brown had a return on equity of 15.33% and a net margin of 18.23%.The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the business earned $0.91 earnings per share. The company’s revenue was up 35.4% compared to the same quarter last year. On average, equities analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, November 5th. Brown & Brown’s dividend payout ratio (DPR) is 17.29%.

Insider Transactions at Brown & Brown

In related news, Director Paul J. Krump bought 2,678 shares of Brown & Brown stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $93.31 per share, for a total transaction of $249,884.18. Following the completion of the acquisition, the director owned 5,353 shares in the company, valued at approximately $499,488.43. This represents a 100.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bronislaw Edmund Masojada bought 1,000 shares of Brown & Brown stock in a transaction on Wednesday, August 6th. The shares were bought at an average price of $91.44 per share, for a total transaction of $91,440.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $457,200. The trade was a 25.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 15.59% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BRO shares. Wall Street Zen raised Brown & Brown from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Raymond James Financial reaffirmed an “outperform” rating and set a $120.00 price target (down previously from $125.00) on shares of Brown & Brown in a research note on Monday, August 4th. Bank of America raised Brown & Brown from a “neutral” rating to a “buy” rating and upped their price target for the company from $126.00 to $130.00 in a research note on Wednesday, July 30th. Morgan Stanley cut their price target on Brown & Brown from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Finally, Weiss Ratings lowered Brown & Brown from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $109.92.

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.