Brown & Brown, Inc. $BRO Shares Purchased by Lido Advisors LLC

Lido Advisors LLC raised its holdings in Brown & Brown, Inc. (NYSE:BRO) by 1,129.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 250,142 shares of the financial services provider’s stock after acquiring an additional 229,801 shares during the quarter. Lido Advisors LLC’s holdings in Brown & Brown were worth $16,863,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Westside Investment Management Inc. lifted its holdings in shares of Brown & Brown by 84.7% during the third quarter. Westside Investment Management Inc. now owns 399 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 183 shares during the period. Allied Private Wealth LLC bought a new stake in shares of Brown & Brown in the second quarter worth $35,000. Continuum Advisory LLC bought a new stake in shares of Brown & Brown in the second quarter worth $34,000. Johnson Financial Group Inc. bought a new stake in shares of Brown & Brown in the second quarter worth $37,000. Finally, Manchester Capital Management LLC increased its holdings in Brown & Brown by 853.3% in the third quarter. Manchester Capital Management LLC now owns 572 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 512 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BRO. BMO Capital Markets raised their target price on Brown & Brown from $73.00 to $74.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Oppenheimer initiated coverage on Brown & Brown in a report on Wednesday, October 7th. They set an “outperform” rating and a $73.00 target price on the stock. TD Cowen began coverage on Brown & Brown in a research report on Monday, October 12th. They issued a “buy” rating and a $82.00 price target on the stock. Barclays reduced their price target on Brown & Brown from $76.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 7th. Finally, Mizuho decreased their price target on Brown & Brown from $83.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $75.47.

Brown & Brown Stock Down 0.7%

Brown & Brown stock opened at $71.35 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.96 and a current ratio of 1.96. Brown & Brown, Inc. has a 52-week low of $53.81 and a 52-week high of $82.57. The firm has a 50 day moving average price of $66.93 and a two-hundred day moving average price of $66.56. The firm has a market cap of $23.67 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 2.36 and a beta of 0.52.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 26th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). Brown & Brown had a return on equity of 13.29% and a net margin of 17.63%. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm posted $1.05 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts predict that Brown & Brown, Inc. will post 4.44 EPS for the current year.

Brown & Brown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 11th. Investors of record on Wednesday, November 4th were paid a dividend of $0.18 per share. This is a boost from Brown & Brown’s previous quarterly dividend of $0.1650. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, November 4th. Brown & Brown’s payout ratio is 22.78%.

Brown & Brown Profile

Brown & Brown, Inc. is an insurance brokerage and risk management company that helps businesses, public entities and individuals assess and manage risk. Its services include arranging property and casualty insurance, employee benefits and personal insurance, as well as providing risk management and related services. The company serves clients through retail insurance operations, national insurance programs, wholesale brokerage and insurance-related services. It operates primarily in the United States and also serves clients in international markets.