Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Raymond James & Associates

Raymond James & Associates raised its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 468,146 shares of the financial services provider’s stock after acquiring an additional 8,484 shares during the period. Raymond James & Associates owned approximately 0.16% of Brown & Brown worth $48,500,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BRO. Crewe Advisors LLC increased its position in 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 in the last quarter. Headlands Technologies LLC purchased a new stake in Brown & Brown during the first quarter worth approximately $32,000. Blue Trust Inc. increased its position in shares of Brown & Brown by 142.3% in the second quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 323 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Brown & Brown by 65.7% in the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 211 shares during the period. Finally, ORG Partners LLC increased its holdings in Brown & Brown by 111.0% in the 1st quarter. ORG Partners LLC now owns 633 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 333 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Raymond James boosted their price objective on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Truist Financial boosted their price target on Brown & Brown from $112.00 to $116.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bank of America upped their price target on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Royal Bank of Canada lifted their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Argus assumed coverage on shares of Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $105.67.

Insider Activity at Brown & Brown

In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total transaction of $250,800.00. Following the transaction, the chief financial officer now owns 88,445 shares of the company’s stock, valued at $8,872,802.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 Brown & Brown stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.02% of the stock is owned by corporate insiders.

Brown & Brown Trading Down 0.6 %

BRO opened at $105.44 on Wednesday. Brown & Brown, Inc. has a 12-month low of $66.73 and a 12-month high of $107.67. 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 stock has a market capitalization of $30.08 billion, a PE ratio of 30.30, a P/E/G ratio of 2.50 and a beta of 0.83. The firm’s fifty day moving average price is $103.81 and its 200 day moving average price is $94.85.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, research analysts expect that Brown & Brown, Inc. will post 3.69 EPS for the current fiscal year.

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.