AG Campbell Advisory LLC Purchases Shares of 21,730 Brown & Brown, Inc. $BRO

AG Campbell Advisory LLC bought a new position in Brown & Brown, Inc. (NYSE:BRO) in the 4th quarter, HoldingsChannel.com reports. The fund bought 21,730 shares of the financial services provider’s stock, valued at approximately $1,732,000. Brown & Brown makes up approximately 0.6% of AG Campbell Advisory LLC’s investment portfolio, making the stock its 19th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in Brown & Brown by 38.3% during the 1st quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider’s stock valued at $4,132,000 after buying an additional 9,264 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Brown & Brown by 5.2% during the 1st quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider’s stock valued at $1,387,000 after buying an additional 547 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Brown & Brown by 1,824.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 53,103 shares of the financial services provider’s stock valued at $5,888,000 after purchasing an additional 50,344 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Brown & Brown by 27.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the financial services provider’s stock worth $116,000 after buying an additional 223 shares in the last quarter. Finally, Cary Street Partners Financial LLC lifted its holdings in shares of Brown & Brown by 60.9% in the second quarter. Cary Street Partners Financial LLC now owns 933 shares of the financial services provider’s stock worth $103,000 after buying an additional 353 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Insider Activity at Brown & Brown

In related news, Director H Palmer Proctor, Jr. acquired 2,000 shares of Brown & Brown stock in a transaction on Tuesday, May 5th. The stock was acquired at an average price of $57.10 per share, for a total transaction of $114,200.00. Following the purchase, the director owned 47,621 shares of the company’s stock, valued at approximately $2,719,159.10. This represents a 4.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.13% of the stock is owned by company insiders.

Brown & Brown Trading Down 0.2%

Shares of BRO opened at $59.00 on Friday. Brown & Brown, Inc. has a twelve month low of $53.81 and a twelve month high of $111.10. The company has a market cap of $20.00 billion, a P/E ratio of 18.97, a P/E/G ratio of 2.72 and a beta of 0.63. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $60.38 and its 200-day simple moving average is $69.11.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The firm’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.29 EPS. As a group, analysts expect that Brown & Brown, Inc. will post 4.51 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were paid a dividend of $0.165 per share. The ex-dividend date was Monday, May 11th. This represents a $0.66 dividend on an annualized basis and a yield of 1.1%. Brown & Brown’s dividend payout ratio is presently 21.22%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BRO shares. Barclays cut their price objective on Brown & Brown from $80.00 to $72.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Citigroup began coverage on Brown & Brown in a report on Thursday, May 21st. They set a “market outperform” rating for the company. Citizens Jmp started coverage on Brown & Brown in a research note on Thursday, May 21st. They issued a “market outperform” rating and a $70.00 price objective on the stock. Royal Bank Of Canada decreased their price objective on Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 29th. Finally, Truist Financial lowered their target price on Brown & Brown from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $78.44.

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.