8,296 Shares in Brown & Brown, Inc. $BRO Bought by Williamson Legacy Group LLC

Williamson Legacy Group LLC bought a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 8,296 shares of the financial services provider’s stock, valued at approximately $920,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of BRO. Parnassus Investments LLC bought a new position in shares of Brown & Brown during the 1st quarter worth about $899,139,000. Vanguard Group Inc. grew its position in Brown & Brown by 16.8% during the second quarter. Vanguard Group Inc. now owns 35,625,322 shares of the financial services provider’s stock worth $3,949,779,000 after buying an additional 5,124,203 shares in the last quarter. Norges Bank bought a new position in Brown & Brown during the second quarter valued at about $433,740,000. Boston Partners acquired a new position in Brown & Brown in the 2nd quarter valued at approximately $171,163,000. Finally, Geode Capital Management LLC lifted its position in shares of Brown & Brown by 16.6% in the 2nd quarter. Geode Capital Management LLC now owns 7,369,576 shares of the financial services provider’s stock worth $813,624,000 after acquiring an additional 1,050,350 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Up 0.8%

Shares of NYSE BRO opened at $81.10 on Friday. The stock has a market cap of $27.69 billion, a PE ratio of 24.28, a PEG ratio of 1.70 and a beta of 0.77. The business has a fifty day moving average of $86.24 and a two-hundred day moving average of $96.85. Brown & Brown, Inc. has a 52-week low of $76.17 and a 52-week high of $125.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.72 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 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.15. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The firm’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. As a group, equities research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, November 5th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a dividend yield of 0.8%. Brown & Brown’s dividend payout ratio (DPR) is 19.76%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BRO. Bank of America restated a “neutral” rating and set a $97.00 price objective (down from $135.00) on shares of Brown & Brown in a research report on Monday, November 3rd. Citigroup cut Brown & Brown from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Wells Fargo & Company decreased their price target on shares of Brown & Brown from $98.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 29th. UBS Group dropped their price objective on shares of Brown & Brown from $120.00 to $106.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Brown & Brown from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $102.69.

Brown & Brown Company Profile

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.