BOK Financial Private Wealth Inc. Has $1.34 Million Stock Position in Brown & Brown, Inc. $BRO

BOK Financial Private Wealth Inc. reduced its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 19.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,070 shares of the financial services provider’s stock after selling 2,975 shares during the quarter. BOK Financial Private Wealth Inc.’s holdings in Brown & Brown were worth $1,338,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bares Capital Management Inc. acquired a new position in shares of Brown & Brown during the first quarter valued at about $26,000. ST Germain D J Co. Inc. increased its stake in 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. SouthState Corp raised its holdings in Brown & Brown by 188.6% in the 1st quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 166 shares in the last quarter. Motco bought a new stake in shares of Brown & Brown in the 2nd quarter worth approximately $32,000. 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 in the last quarter. 71.01% of the stock is owned by institutional investors.

Brown & Brown Price Performance

NYSE:BRO opened at $78.51 on Monday. The company has a quick ratio of 6.72, a current ratio of 2.10 and a debt-to-equity ratio of 0.62. The firm has a market cap of $26.81 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. Brown & Brown, Inc. has a 12 month low of $76.17 and a 12 month high of $125.68. The company’s 50-day moving average price is $90.31 and its two-hundred day moving average price is $99.98.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. Brown & Brown’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share. On average, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, November 5th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s dividend payout ratio is presently 19.76%.

Wall Street Analysts Forecast Growth

BRO has been the subject of a number of recent research reports. Wells Fargo & Company cut their target price on Brown & Brown from $98.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 29th. Weiss Ratings cut shares of Brown & Brown from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Citigroup lowered shares of Brown & Brown from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Barclays lowered their target price on shares of Brown & Brown from $108.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Finally, Argus restated a “hold” rating on shares of Brown & Brown in a research note on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Brown & Brown has a consensus rating of “Hold” and a consensus target price of $105.23.

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.