Brighton Jones LLC Invests $1.10 Million in Brown & Brown, Inc. (NYSE:BRO)

Brighton Jones LLC purchased a new position in Brown & Brown, Inc. (NYSE:BRO) in the third quarter, Holdings Channel.com reports. The firm purchased 10,611 shares of the financial services provider’s stock, valued at approximately $1,099,000.

A number of other large investors have also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund grew its stake in shares of Brown & Brown by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock worth $1,819,000 after acquiring an additional 100 shares during the period. Trust Point Inc. grew its position in Brown & Brown by 4.3% during the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock valued at $261,000 after buying an additional 103 shares during the period. Creative Planning grew its position in Brown & Brown by 0.4% during the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after buying an additional 112 shares during the period. State of Alaska Department of Revenue grew its position in Brown & Brown by 0.5% during the first 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 buying an additional 125 shares during the period. Finally, Anchor Investment Management LLC grew its position in Brown & Brown by 4.0% during the second quarter. Anchor Investment Management LLC now owns 3,286 shares of the financial services provider’s stock valued at $294,000 after buying an additional 125 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Insider Transactions at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction dated 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 can be accessed through this hyperlink. In other news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction dated 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 can be accessed through this hyperlink. Also, 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 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 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. Company insiders own 17.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BRO shares. Barclays started coverage on shares of Brown & Brown in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 target price for the company. Keefe, Bruyette & Woods boosted their target price on shares of Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Jefferies Financial Group boosted their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Wells Fargo & Company lifted their price target on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Argus began coverage on shares of Brown & Brown in a report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Brown & Brown currently has an average rating of “Hold” and an average price target of $105.67.

Brown & Brown Trading Down 0.7 %

BRO stock opened at $105.26 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a twelve month low of $67.30 and a twelve month high of $107.67. The stock has a market capitalization of $30.03 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 2.48 and a beta of 0.83. The firm’s fifty day simple moving average is $103.99 and its two-hundred day simple moving average is $95.00.

Brown & Brown (NYSE:BRO) last posted its quarterly 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 firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, analysts anticipate that Brown & Brown, Inc. will post 3.69 earnings per share for the current year.

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, November 6th. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. Brown & Brown’s dividend payout ratio is presently 14.94%.

About Brown & Brown

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.