Brown & Brown, Inc. $BRO Shares Acquired by Cwm LLC

Cwm LLC grew its stake in Brown & Brown, Inc. (NYSE:BRO) by 895.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 62,545 shares of the financial services provider’s stock after buying an additional 56,265 shares during the period. Cwm LLC’s holdings in Brown & Brown were worth $5,866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Parallel Advisors LLC increased its position in shares of Brown & Brown by 4.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,508 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 103 shares during the period. Tower Wealth Partners Inc. increased its holdings in shares of Brown & Brown by 4.6% in the second quarter. Tower Wealth Partners Inc. now owns 2,464 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 108 shares during the period. Western Wealth Management LLC raised its stake in shares of Brown & Brown by 6.0% in the second quarter. Western Wealth Management LLC now owns 1,902 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 108 shares during the last quarter. ICONIQ Capital LLC lifted its holdings in shares of Brown & Brown by 5.4% during the second quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 109 shares during the period. Finally, Kingsview Wealth Management LLC boosted its position in Brown & Brown by 2.2% in the second quarter. Kingsview Wealth Management LLC now owns 5,267 shares of the financial services provider’s stock valued at $584,000 after buying an additional 114 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on BRO. UBS Group reduced their price target on shares of Brown & Brown from $120.00 to $106.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Wolfe Research started coverage on shares of Brown & Brown in a report on Thursday, November 20th. They set a “peer perform” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of Brown & Brown in a research report on Monday. Raymond James Financial reaffirmed an “outperform” rating on shares of Brown & Brown in a research report on Monday, November 3rd. Finally, Mizuho set a $89.00 price objective on Brown & Brown and gave the company a “neutral” rating in a report on Monday, December 15th. Four investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $99.80.

Brown & Brown Trading Down 0.8%

Shares of Brown & Brown stock opened at $80.20 on Wednesday. The firm has a 50-day simple moving average of $80.60 and a two-hundred day simple moving average of $92.01. The company has a market cap of $27.38 billion, a P/E ratio of 24.01, a price-to-earnings-growth ratio of 1.89 and a beta of 0.82. Brown & Brown, Inc. has a fifty-two week low of $76.17 and a fifty-two week high of $125.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.10 and a current ratio of 2.10.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The company’s quarterly revenue was up 35.4% on a year-over-year basis. During the same period last year, the firm earned $0.91 EPS. As a group, equities analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, November 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 19.76%.

About Brown & Brown

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.