Brown & Brown Inc. (NYSE:BRO) EVP Richard Freebourn sold 25,000 shares of the stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $42.90, for a total transaction of $1,072,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of Brown & Brown Inc. (NYSE:BRO) traded up 1.50% during mid-day trading on Thursday, hitting $43.28. 834,832 shares of the stock traded hands. The company has a market capitalization of $6.07 billion, a PE ratio of 23.79 and a beta of 0.67. The company’s 50-day moving average price is $38.29 and its 200 day moving average price is $37.02. Brown & Brown Inc. has a 1-year low of $28.41 and a 1-year high of $43.36.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Thursday, October 20th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.03. The business had revenue of $462.30 million for the quarter, compared to the consensus estimate of $455.56 million. Brown & Brown had a net margin of 14.84% and a return on equity of 11.80%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 EPS. Equities research analysts forecast that Brown & Brown Inc. will post $1.83 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 9th. Shareholders of record on Friday, October 28th were given a dividend of $0.135 per share. This is an increase from Brown & Brown’s previous quarterly dividend of $0.12. This represents a $0.54 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Wednesday, October 26th. Brown & Brown’s payout ratio is presently 29.67%.

Several brokerages recently issued reports on BRO. Citigroup Inc. increased their target price on shares of Brown & Brown from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 11th. Barclays PLC increased their target price on shares of Brown & Brown from $31.00 to $33.00 and gave the stock an “underweight” rating in a research note on Friday, September 30th. BMO Capital Markets lowered shares of Brown & Brown from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $39.00 to $37.00 in a research note on Friday, November 4th. Finally, Deutsche Bank AG lowered shares of Brown & Brown from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research note on Monday, October 24th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $35.92.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. LS Investment Advisors LLC increased its position in shares of Brown & Brown by 74.7% in the second quarter. LS Investment Advisors LLC now owns 6,993 shares of the company’s stock worth $262,000 after buying an additional 2,991 shares during the last quarter. Clarkston Capital Partners LLC increased its position in shares of Brown & Brown by 9.9% in the second quarter. Clarkston Capital Partners LLC now owns 2,153,130 shares of the company’s stock worth $80,678,000 after buying an additional 194,275 shares during the last quarter. IBM Retirement Fund increased its position in shares of Brown & Brown by 1.4% in the second quarter. IBM Retirement Fund now owns 11,756 shares of the company’s stock worth $440,000 after buying an additional 168 shares during the last quarter. Leavell Investment Management Inc. increased its position in shares of Brown & Brown by 62.3% in the second quarter. Leavell Investment Management Inc. now owns 33,100 shares of the company’s stock worth $1,240,000 after buying an additional 12,700 shares during the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of Brown & Brown by 2.9% in the second quarter. Capstone Asset Management Co. now owns 11,458 shares of the company’s stock worth $429,000 after buying an additional 320 shares during the last quarter. 71.46% of the stock is currently owned by institutional investors and hedge funds.

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Brown & Brown Company Profile

Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services in the property, casualty and employee benefits areas. It provides customers with non-investment insurance contracts, as well as other targeted, customized risk management products and services.

5 Day Chart for NYSE:BRO

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