Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 462,848 shares of the financial services provider’s stock after purchasing an additional 18,283 shares during the quarter. Hsbc Holdings PLC owned about 0.16% of Brown & Brown worth $41,467,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Oregon Public Employees Retirement Fund increased its position in shares of Brown & Brown by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock valued at $1,819,000 after acquiring an additional 100 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Brown & Brown by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 25,633 shares of the financial services provider’s stock valued at $2,243,000 after purchasing an additional 125 shares during the last quarter. Studio Investment Management LLC raised its position in Brown & Brown by 2.1% in the second quarter. Studio Investment Management LLC now owns 6,417 shares of the financial services provider’s stock valued at $574,000 after purchasing an additional 130 shares during the period. Simplicity Wealth LLC lifted its stake in Brown & Brown by 5.6% during the second quarter. Simplicity Wealth LLC now owns 2,505 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 132 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Brown & Brown by 2.4% during the second quarter. Sequoia Financial Advisors LLC now owns 6,856 shares of the financial services provider’s stock worth $613,000 after buying an additional 163 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $101.01 on Friday. The stock’s 50-day simple moving average is $100.70 and its 200-day simple moving average is $91.83. The firm has a market capitalization of $28.81 billion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 2.42 and a beta of 0.83. Brown & Brown, Inc. has a fifty-two week low of $66.73 and a fifty-two week high of $106.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities research analysts forecast that Brown & Brown, Inc. will post 3.68 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.52 annualized dividend and a yield of 0.51%. Brown & Brown’s dividend payout ratio is presently 16.00%.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities analysts recently issued reports on BRO shares. UBS Group increased their target price on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Royal Bank of Canada upped their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Truist Financial raised their price target on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Citigroup increased their price objective on Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.00.

Brown & Brown Company Profile

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.