HWG Holdings LP Makes New $3.67 Million Investment in Brown & Brown, Inc. (NYSE:BRO)

HWG Holdings LP purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 41,043 shares of the financial services provider’s stock, valued at approximately $3,670,000. Brown & Brown accounts for approximately 1.3% of HWG Holdings LP’s investment portfolio, making the stock its 18th biggest holding.

A number of other large investors also recently made changes to their positions in BRO. Crewe Advisors LLC lifted its stake in shares of Brown & Brown by 330.4% during the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 228 shares during the period. Headlands Technologies LLC purchased a new position in shares of Brown & Brown in the 1st quarter worth $32,000. Alaska Permanent Fund Corp purchased a new position in shares of Brown & Brown in the 1st quarter worth $36,000. First PREMIER Bank purchased a new position in shares of Brown & Brown in the 1st quarter worth $40,000. Finally, Intelligent Financial Strategies purchased a new position in shares of Brown & Brown in the 1st quarter worth $45,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Royal Bank of Canada increased their target price on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Raymond James increased their target price on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods increased their target price on Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Truist Financial increased their price target on Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com upgraded Brown & Brown from a “hold” rating to a “buy” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Brown & Brown has a consensus rating of “Moderate Buy” and an average target price of $101.67.

Insider Activity

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

Brown & Brown Stock Down 0.3 %

Shares of Brown & Brown stock opened at $102.65 on Monday. The business has a 50-day moving average of $101.68 and a 200-day moving average of $92.54. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35. The company has a market capitalization of $29.28 billion, a PE ratio of 31.58, a P/E/G ratio of 2.40 and a beta of 0.83. Brown & Brown, Inc. has a 1-year low of $66.73 and a 1-year high of $106.02.

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

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were paid 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 0.51%. Brown & Brown’s dividend payout ratio is presently 16.00%.

Brown & Brown 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.