Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC raised its position in Brown & Brown, Inc. (NYSE:BRO) by 5.9% in the 3rd quarter, Holdings Channel reports. The fund owned 4,190 shares of the financial services provider’s stock after purchasing an additional 234 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Brown & Brown were worth $434,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. ST Germain D J Co. Inc. grew its holdings in Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Crewe Advisors LLC increased its position in shares of Brown & Brown by 330.4% during the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 228 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Brown & Brown in the first quarter worth about $32,000. Larson Financial Group LLC boosted its holdings in Brown & Brown by 65.7% in the second quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 211 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in Brown & Brown by 142.3% during the 2nd quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 323 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction that occurred 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 legal filing with the SEC, which is accessible through the SEC website. 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 value of $250,800.00. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The disclosure for this sale can be found here. 17.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BRO has been the subject of several research analyst reports. Bank of America increased their target price on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. UBS Group boosted their target price on shares of Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods increased their price target on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Argus started coverage on Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective for the company. Finally, Wells Fargo & Company increased their target price on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $105.67.

Brown & Brown Stock Performance

BRO stock opened at $103.98 on Friday. Brown & Brown, Inc. has a 1 year low of $67.30 and a 1 year high of $107.67. The stock has a market capitalization of $29.66 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 2.48 and a beta of 0.83. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. The stock’s fifty day moving average is $104.03 and its two-hundred day moving average is $95.21.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.58%. Brown & Brown’s dividend payout ratio (DPR) is currently 14.94%.

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.