Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Cresset Asset Management LLC

Cresset Asset Management LLC lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BROFree Report) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 331,047 shares of the financial services provider’s stock after purchasing an additional 5,062 shares during the quarter. Cresset Asset Management LLC owned about 0.12% of Brown & Brown worth $23,541,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. SG Americas Securities LLC boosted its holdings in Brown & Brown by 86.9% in the fourth quarter. SG Americas Securities LLC now owns 24,866 shares of the financial services provider’s stock valued at $1,768,000 after acquiring an additional 11,559 shares during the last quarter. Patton Fund Management Inc. acquired a new position in Brown & Brown in the fourth quarter valued at $4,765,000. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Brown & Brown by 206.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 15,302 shares of the financial services provider’s stock worth $1,088,000 after purchasing an additional 10,301 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Brown & Brown by 55.4% during the fourth quarter. Russell Investments Group Ltd. now owns 358,929 shares of the financial services provider’s stock worth $25,519,000 after purchasing an additional 127,903 shares in the last quarter. Finally, Whittier Trust Co. lifted its stake in shares of Brown & Brown by 12.1% during the fourth quarter. Whittier Trust Co. now owns 162,226 shares of the financial services provider’s stock worth $11,536,000 after purchasing an additional 17,479 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

BRO has been the topic of a number of analyst reports. Royal Bank of Canada lifted their target price on Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. Bank of America raised Brown & Brown from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $91.00 to $101.00 in a report on Wednesday, May 22nd. Keefe, Bruyette & Woods boosted their price objective on Brown & Brown from $80.00 to $82.00 and gave the company an “underperform” rating in a report on Friday, May 3rd. Finally, Citigroup boosted their price objective on Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $89.40.

Get Our Latest Stock Report on BRO

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, EVP Julie Turpin sold 3,350 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $89.92, for a total transaction of $301,232.00. Following the sale, the executive vice president now directly owns 23,597 shares of the company’s stock, valued at approximately $2,121,842.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 16.43% of the company’s stock.

Brown & Brown Price Performance

NYSE BRO opened at $89.64 on Tuesday. The stock has a market capitalization of $25.57 billion, a P/E ratio of 27.58, a P/E/G ratio of 2.37 and a beta of 0.82. Brown & Brown, Inc. has a 1 year low of $63.37 and a 1 year high of $91.70. The business’s fifty day moving average is $85.73 and its two-hundred day moving average is $80.85. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.97 and a current ratio of 1.97.

Brown & Brown (NYSE:BROGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.07. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 earnings per share. On average, research analysts forecast that Brown & Brown, Inc. will post 3.61 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Friday, May 3rd. Brown & Brown’s dividend payout ratio (DPR) is currently 16.00%.

About Brown & Brown

(Free Report)

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.

See Also

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Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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