Keybank National Association OH Has $19.59 Million Stock Position in Brown & Brown, Inc. $BRO

Keybank National Association OH increased its stake in Brown & Brown, Inc. (NYSE:BRO) by 1,864.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 300,387 shares of the financial services provider’s stock after purchasing an additional 285,098 shares during the period. Keybank National Association OH’s holdings in Brown & Brown were worth $19,588,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of BRO. Darwin Wealth Management LLC acquired a new stake in Brown & Brown during the second quarter worth about $30,000. Basepoint Wealth LLC acquired a new position in shares of Brown & Brown in the 4th quarter valued at approximately $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Brown & Brown during the 1st quarter worth approximately $25,000. DV Equities LLC bought a new stake in shares of Brown & Brown during the 4th quarter worth approximately $33,000. Finally, Board of the Pension Protection Fund acquired a new stake in shares of Brown & Brown during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Activity

In other news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was bought at an average cost 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. The trade was a 4.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.13% of the company’s stock.

Brown & Brown Trading Down 0.2%

Shares of Brown & Brown stock opened at $69.87 on Friday. The firm’s 50 day moving average is $59.70 and its 200 day moving average is $68.05. The firm has a market capitalization of $23.68 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 3.22 and a beta of 0.60. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $108.75. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The firm’s revenue was up 35.4% compared to the same quarter last year. Equities research analysts forecast that Brown & Brown, Inc. will post 4.52 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 11th were issued a dividend of $0.165 per share. The ex-dividend date was Monday, May 11th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. Brown & Brown’s dividend payout ratio is 21.22%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Brown & Brown from $91.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Royal Bank Of Canada reduced their target price 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. Raymond James Financial reaffirmed an “outperform” rating on shares of Brown & Brown in a report on Friday, June 26th. Citigroup began coverage on Brown & Brown in a research note on Thursday, May 21st. They issued a “market outperform” rating on the stock. Finally, Morgan Stanley dropped their price objective on Brown & Brown from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. Five research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $78.25.

Brown & Brown Company Profile

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.