EP Wealth Advisors LLC Acquires 2,065 Shares of Brown & Brown, Inc. (NYSE:BRO)

EP Wealth Advisors LLC lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 21.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,725 shares of the financial services provider’s stock after purchasing an additional 2,065 shares during the period. EP Wealth Advisors LLC’s holdings in Brown & Brown were worth $1,048,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Crewe Advisors LLC boosted its holdings 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 buying an additional 228 shares in the last quarter. Headlands Technologies LLC bought a new position in Brown & Brown during the first quarter worth $32,000. Alaska Permanent Fund Corp acquired a new stake in Brown & Brown in the first quarter worth $36,000. First PREMIER Bank acquired a new stake in Brown & Brown in the first quarter worth $40,000. Finally, Intelligent Financial Strategies bought a new stake in Brown & Brown in the first quarter valued at $45,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

BRO has been the subject of several research reports. Keefe, Bruyette & Woods raised their target price on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Raymond James upped 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. Barclays began coverage on shares of Brown & Brown in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 price target for the company. Finally, Argus started coverage on shares of Brown & Brown in a research report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price target on the stock. 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.67.

Brown & Brown Stock Performance

Shares of Brown & Brown stock opened at $105.04 on Thursday. The business’s fifty day simple moving average is $102.03 and its 200 day simple moving average is $92.81. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12 month low of $66.73 and a 12 month high of $106.02. The firm has a market capitalization of $29.96 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 2.38 and a beta of 0.83.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 EPS. As a group, analysts anticipate that Brown & Brown, Inc. will post 3.68 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Wednesday, August 7th. Brown & Brown’s payout ratio is 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.