2,100 Shares in Brown & Brown, Inc. (NYSE:BRO) Bought by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,100 shares of the financial services provider’s stock, valued at approximately $218,000.

Several other institutional investors also recently bought and sold shares of the stock. Great Valley Advisor Group Inc. acquired a new stake in Brown & Brown in the 2nd quarter worth approximately $1,512,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Brown & Brown by 12.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider’s stock worth $21,855,000 after buying an additional 27,879 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Brown & Brown by 162.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 488,483 shares of the financial services provider’s stock valued at $43,675,000 after buying an additional 302,240 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Brown & Brown by 27.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 31,105 shares of the financial services provider’s stock valued at $2,781,000 after buying an additional 6,675 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Brown & Brown by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,553,396 shares of the financial services provider’s stock worth $138,899,000 after acquiring an additional 114,688 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 17.02% of the stock is owned by company insiders.

Brown & Brown Stock Performance

Brown & Brown stock opened at $111.75 on Tuesday. The stock has a 50-day simple moving average of $106.16 and a 200 day simple moving average of $99.01. The stock has a market capitalization of $31.96 billion, a price-to-earnings ratio of 30.45, a P/E/G ratio of 2.58 and a beta of 0.82. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 12-month low of $69.13 and a 12-month high of $114.08.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. On average, research analysts anticipate that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BRO shares. Royal Bank of Canada raised their price target on Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their target price on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Argus began coverage on Brown & Brown in a research report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price target on the stock. Barclays increased their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Finally, Truist Financial boosted their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and a consensus price target of $107.42.

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.