3,063 Shares in Brown & Brown, Inc. (NYSE:BRO) Bought by Curi RMB Capital LLC

Curi RMB Capital LLC purchased a new stake in Brown & Brown, Inc. (NYSE:BRO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,063 shares of the financial services provider’s stock, valued at approximately $317,000.

A number of other institutional investors also recently bought and sold shares of BRO. Royal London Asset Management Ltd. lifted its stake in Brown & Brown by 105.1% during the second quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock worth $184,930,000 after purchasing an additional 1,059,711 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Brown & Brown by 24.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock valued at $311,979,000 after buying an additional 687,783 shares in the last quarter. Capital World Investors grew its position in shares of Brown & Brown by 50.5% in the 1st quarter. Capital World Investors now owns 1,413,224 shares of the financial services provider’s stock valued at $123,714,000 after buying an additional 473,982 shares during the last quarter. Natixis Advisors LLC raised its stake in Brown & Brown by 123.9% during the 2nd quarter. Natixis Advisors LLC now owns 733,668 shares of the financial services provider’s stock worth $65,597,000 after acquiring an additional 406,064 shares in the last quarter. Finally, Truist Financial Corp lifted its position in Brown & Brown by 392.3% in the second quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider’s stock valued at $42,287,000 after acquiring an additional 376,892 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Raymond James lifted their target price on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Barclays began coverage on Brown & Brown in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 price objective for the company. Argus assumed coverage on shares of Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 target price on the stock. Keefe, Bruyette & Woods upped their price target on shares of Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company increased their price target on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $106.50.

Brown & Brown Trading Up 0.5 %

NYSE BRO opened at $110.05 on Friday. Brown & Brown, Inc. has a 52-week low of $69.13 and a 52-week high of $114.08. The firm has a 50-day moving average price of $105.38 and a 200 day moving average price of $97.98. The stock has a market capitalization of $31.47 billion, a P/E ratio of 29.99, a P/E/G ratio of 2.58 and a beta of 0.82. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm earned $0.71 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts expect that Brown & Brown, Inc. will post 3.73 EPS for the current year.

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, November 6th. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. Brown & Brown’s dividend payout ratio is 16.35%.

Insider Activity

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 17.02% of the company’s stock.

About Brown & Brown

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.