Koshinski Asset Management Inc. Raises Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Koshinski Asset Management Inc. boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 125.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,614 shares of the financial services provider’s stock after acquiring an additional 5,344 shares during the period. Koshinski Asset Management Inc.’s holdings in Brown & Brown were worth $996,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BRO. State Board of Administration of Florida Retirement System increased its position in shares of Brown & Brown by 2.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 267,190 shares of the financial services provider’s stock valued at $23,390,000 after acquiring an additional 6,613 shares during the period. Sei Investments Co. raised its stake in shares of Brown & Brown by 12.7% in the first quarter. Sei Investments Co. now owns 276,090 shares of the financial services provider’s stock worth $24,169,000 after purchasing an additional 31,071 shares during the last quarter. Great Valley Advisor Group Inc. acquired a new stake in shares of Brown & Brown during the second quarter worth about $1,512,000. DekaBank Deutsche Girozentrale boosted its position in Brown & Brown by 12.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider’s stock valued at $21,855,000 after buying an additional 27,879 shares during the last quarter. Finally, Norden Group LLC increased its holdings in Brown & Brown by 2,650.9% in the 1st quarter. Norden Group LLC now owns 99,856 shares of the financial services provider’s stock worth $8,741,000 after buying an additional 96,226 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

BRO opened at $106.00 on Tuesday. Brown & Brown, Inc. has a twelve month low of $66.73 and a twelve month high of $106.67. The firm has a market capitalization of $30.24 billion, a PE ratio of 32.62, a PEG ratio of 2.45 and a beta of 0.83. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $102.88 and its 200 day moving average price is $93.86.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business earned $0.68 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts expect that Brown & Brown, Inc. will post 3.69 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.52 annualized dividend and a dividend yield of 0.49%. Brown & Brown’s dividend payout ratio is presently 16.00%.

Insider Activity

In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the transaction, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at $8,872,802.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total transaction of $250,800.00. Following the completion of the transaction, the chief financial officer now directly owns 88,445 shares in the company, valued at approximately $8,872,802.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The disclosure for this sale can be found here. Corporate insiders own 17.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. UBS Group lifted their price objective on Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Argus assumed coverage on Brown & Brown in a research note on Tuesday, September 24th. They issued a “buy” rating and a $120.00 target price on the stock. Royal Bank of Canada boosted their price target on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Brown & Brown currently has an average rating of “Moderate Buy” and an average target price of $105.33.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.