GHP Investment Advisors Inc. Purchases 12,196 Shares of Brown & Brown, Inc. $BRO

GHP Investment Advisors Inc. boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 12.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 109,124 shares of the financial services provider’s stock after purchasing an additional 12,196 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Brown & Brown were worth $7,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. ICONIQ Capital LLC increased its position in shares of Brown & Brown by 5.4% during the second quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 109 shares in the last quarter. Zacks Investment Management lifted its position in Brown & Brown by 0.7% in the 3rd quarter. Zacks Investment Management now owns 17,854 shares of the financial services provider’s stock valued at $1,675,000 after acquiring an additional 125 shares in the last quarter. Private Trust Co. NA lifted its position in Brown & Brown by 13.1% in the 4th quarter. Private Trust Co. NA now owns 1,147 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 133 shares in the last quarter. Moors & Cabot Inc. boosted its stake in Brown & Brown by 2.1% during the 3rd quarter. Moors & Cabot Inc. now owns 6,805 shares of the financial services provider’s stock valued at $638,000 after purchasing an additional 142 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its stake in Brown & Brown by 1.7% during the 3rd quarter. Aptus Capital Advisors LLC now owns 9,491 shares of the financial services provider’s stock valued at $890,000 after purchasing an additional 160 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Citigroup began coverage on Brown & Brown in a research note on Thursday, May 21st. They issued a “market outperform” rating for the company. Weiss Ratings cut Brown & Brown from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their price objective on Brown & Brown from $91.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Barclays decreased their target price on Brown & Brown from $80.00 to $72.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Finally, UBS Group lowered their target price on shares of Brown & Brown from $81.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 9th. Five analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Brown & Brown currently has an average rating of “Hold” and a consensus target price of $78.44.

Brown & Brown Trading Down 1.5%

Brown & Brown stock opened at $60.88 on Friday. The business has a 50-day simple moving average of $59.89 and a two-hundred day simple moving average of $68.50. The company has a market cap of $20.63 billion, a P/E ratio of 19.57, a P/E/G ratio of 2.85 and a beta of 0.63. Brown & Brown, Inc. has a 52-week low of $53.81 and a 52-week high of $111.09. The company has a quick ratio of 1.64, a current 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 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The business’s quarterly revenue was up 35.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.29 EPS. Analysts predict that Brown & Brown, Inc. will post 4.51 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 11th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, May 11th. Brown & Brown’s dividend payout ratio (DPR) is currently 21.22%.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average price of $57.10 per share, for a total transaction of $114,200.00. Following the purchase, the director directly owned 47,621 shares of the company’s stock, valued at $2,719,159.10. The trade was a 4.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.13% of the stock is owned by corporate insiders.

Brown & Brown 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.