Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,208 shares of the financial services provider’s stock after buying an additional 370 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Brown & Brown were worth $1,265,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. American International Group Inc. increased its holdings in Brown & Brown by 1.3% in the 4th quarter. American International Group Inc. now owns 64,959 shares of the financial services provider’s stock valued at $4,619,000 after purchasing an additional 831 shares in the last quarter. Alaska Permanent Fund Corp acquired a new stake in Brown & Brown in the 1st quarter valued at $36,000. Park Avenue Securities LLC increased its holdings in Brown & Brown by 37.5% in the 1st quarter. Park Avenue Securities LLC now owns 10,484 shares of the financial services provider’s stock valued at $918,000 after purchasing an additional 2,862 shares in the last quarter. First PREMIER Bank acquired a new stake in Brown & Brown in the 1st quarter valued at $40,000. Finally, Wallace Advisory Group LLC acquired a new stake in Brown & Brown in the 1st quarter valued at $265,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Jefferies Financial Group increased their price target on Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Bank of America increased their price target on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Raymond James upped their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Barclays started 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 objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $105.67.

Insider Transactions at Brown & Brown

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

Brown & Brown Stock Performance

Shares of BRO stock opened at $106.39 on Monday. 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, Inc. has a one year low of $66.73 and a one year high of $107.67. The company’s 50-day simple moving average is $103.57 and its 200-day simple moving average is $94.56. The stock has a market capitalization of $30.35 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 2.49 and a beta of 0.83.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.88 by $0.05. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The business 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 posted $0.68 earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities analysts anticipate that Brown & Brown, Inc. will post 3.69 earnings per share for the current fiscal year.

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.