Ironvine Capital Partners LLC Acquires 131,928 Shares of Brown & Brown, Inc. $BRO

Ironvine Capital Partners LLC raised its holdings in Brown & Brown, Inc. (NYSE:BRO) by 509.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 157,805 shares of the financial services provider’s stock after buying an additional 131,928 shares during the quarter. Ironvine Capital Partners LLC’s holdings in Brown & Brown were worth $10,123,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BRO. Union Bancaire Privee UBP SA bought a new stake in shares of Brown & Brown in the first quarter valued at approximately $25,000. Basepoint Wealth LLC acquired a new stake in shares of Brown & Brown in the fourth quarter worth $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Brown & Brown in the second quarter worth $30,000. DV Equities LLC bought a new position in Brown & Brown during the fourth quarter worth $33,000. Finally, Allied Private Wealth LLC bought a new position in Brown & Brown during the second quarter worth $35,000. 71.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of Brown & Brown from $72.00 to $74.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of Brown & Brown in a research report on Friday, June 26th. UBS Group reiterated a “neutral” rating and issued a $73.00 price objective (up from $65.00) on shares of Brown & Brown in a research report on Wednesday, July 8th. Jefferies Financial Group reiterated a “hold” rating on shares of Brown & Brown in a research report on Wednesday, July 29th. Finally, Truist Financial set a $90.00 price target on Brown & Brown in a research note on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $76.80.

Brown & Brown Price Performance

BRO opened at $71.92 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11. The stock has a market capitalization of $24.07 billion, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 2.22 and a beta of 0.58. The company’s 50 day simple moving average is $69.56 and its 200-day simple moving average is $65.85. Brown & Brown, Inc. has a one year low of $53.81 and a one year high of $97.15.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%.The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. Sell-side analysts anticipate that Brown & Brown, Inc. will post 4.5 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were given a dividend of $0.165 per share. The ex-dividend date was Wednesday, August 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. Brown & Brown’s payout ratio is presently 20.82%.

About Brown & Brown

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.