United Capital Financial Advisors LLC Invests $1.28 Million in Brown & Brown, Inc. $BRO

United Capital Financial Advisors LLC acquired a new stake in Brown & Brown, Inc. (NYSE:BRO) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 19,945 shares of the financial services provider’s stock, valued at approximately $1,279,000.

Several other large investors have also recently added to or reduced their stakes in BRO. Darwin Wealth Management LLC purchased a new stake in Brown & Brown during the 2nd quarter worth about $30,000. Basepoint Wealth LLC acquired a new position in shares of Brown & Brown in the 4th quarter valued at $27,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Brown & Brown in the 1st quarter valued at about $25,000. DV Equities LLC purchased a new stake in Brown & Brown in the 4th quarter valued at $33,000. Finally, Allied Private Wealth LLC purchased a new stake in shares of Brown & Brown in the second quarter valued at about $35,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Price Performance

Brown & Brown stock opened at $73.32 on Friday. The firm has a market capitalization of $24.53 billion, a PE ratio of 23.13, a P/E/G ratio of 3.65 and a beta of 0.59. Brown & Brown, Inc. has a 52 week low of $53.81 and a 52 week high of $97.49. The firm’s 50-day simple moving average is $69.05 and its 200 day simple moving average is $65.80. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, July 27th. 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 13.17% and a net margin of 17.75%.The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The business’s revenue was up 30.4% on a year-over-year basis. On average, equities research analysts predict that Brown & Brown, Inc. will post 4.5 EPS for the current fiscal year.

Brown & Brown Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Truist Financial set a $90.00 price objective on Brown & Brown in a report on Wednesday, July 29th. Wells Fargo & Company lowered their price target on shares of Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 9th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Brown & Brown in a report on Wednesday, July 29th. Barclays raised their price objective on shares of Brown & Brown from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Brown & Brown from $72.00 to $74.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $76.80.

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.