Brown & Brown, Inc. $BRO Shares Purchased by Curio Wealth LLC

Curio Wealth LLC boosted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 119,900.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,200 shares of the financial services provider’s stock after acquiring an additional 1,199 shares during the period. Curio Wealth LLC’s holdings in Brown & Brown were worth $133,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its position in Brown & Brown by 26.8% in the first quarter. SBI Securities Co. Ltd. now owns 454 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 96 shares during the period. Graypoint LLC lifted its position in Brown & Brown by 3.3% in the first quarter. Graypoint LLC now owns 3,208 shares of the financial services provider’s stock valued at $399,000 after purchasing an additional 103 shares during the period. NorthRock Partners LLC lifted its position in Brown & Brown by 4.2% in the first quarter. NorthRock Partners LLC now owns 2,530 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 103 shares during the period. Parallel Advisors LLC lifted its position in Brown & Brown by 4.3% in the second quarter. Parallel Advisors LLC now owns 2,508 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 103 shares during the period. Finally, Covestor Ltd lifted its position in Brown & Brown by 12.6% in the first quarter. Covestor Ltd now owns 937 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 105 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Down 0.8%

BRO stock opened at $88.03 on Friday. The stock has a market capitalization of $29.03 billion, a P/E ratio of 25.37, a PEG ratio of 2.00 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.72 and a current ratio of 6.72. Brown & Brown, Inc. has a one year low of $86.79 and a one year high of $125.68. The company has a 50 day moving average price of $93.58 and a two-hundred day moving average price of $102.90.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, July 28th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the company earned $0.93 EPS. Brown & Brown’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Wednesday, November 5th will be given a dividend of $0.165 per share. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. Brown & Brown’s dividend payout ratio is currently 17.29%.

Insiders Place Their Bets

In other Brown & Brown news, Director Bronislaw Edmund Masojada purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $91.44 per share, with a total value of $91,440.00. Following the transaction, the director owned 5,000 shares in the company, valued at approximately $457,200. This trade represents a 25.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul J. Krump purchased 2,678 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $93.31 per share, with a total value of $249,884.18. Following the completion of the transaction, the director owned 5,353 shares in the company, valued at $499,488.43. This trade represents a 100.11% increase in their position. The disclosure for this purchase can be found here. 17.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BRO has been the subject of a number of research reports. Morgan Stanley reduced their price target on shares of Brown & Brown from $105.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Argus reiterated a “hold” rating on shares of Brown & Brown in a research report on Thursday, July 31st. Wells Fargo & Company reduced their price target on shares of Brown & Brown from $101.00 to $98.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Bank of America upgraded shares of Brown & Brown from a “neutral” rating to a “buy” rating and lifted their price target for the company from $126.00 to $130.00 in a research report on Wednesday, July 30th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Brown & Brown in a research report on Friday. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Brown & Brown has an average rating of “Hold” and an average target price of $109.92.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.