Bokf Na Has $1.59 Million Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Bokf Na boosted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 296,616.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 17,803 shares of the financial services provider’s stock after purchasing an additional 17,797 shares during the quarter. Bokf Na’s holdings in Brown & Brown were worth $1,592,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Brown & Brown by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 28,355,305 shares of the financial services provider’s stock valued at $2,482,223,000 after acquiring an additional 203,105 shares in the last quarter. Principal Financial Group Inc. raised its stake in Brown & Brown by 0.7% during the 2nd quarter. Principal Financial Group Inc. now owns 12,804,979 shares of the financial services provider’s stock valued at $1,144,893,000 after purchasing an additional 86,824 shares during the period. Norges Bank acquired a new stake in shares of Brown & Brown in the fourth quarter worth $217,663,000. Royal London Asset Management Ltd. boosted its position in shares of Brown & Brown by 105.1% in the second quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock worth $184,930,000 after buying an additional 1,059,711 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Brown & Brown by 76.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,000,227 shares of the financial services provider’s stock valued at $142,236,000 after buying an additional 865,082 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was 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 Securities & Exchange Commission, which is available at the SEC website. In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of the firm’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 transaction, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at $8,872,802.40. The disclosure for this sale can be found here. 17.02% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Truist Financial raised their price objective on Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada boosted 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. UBS Group increased 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. Wells Fargo & Company upgraded shares of Brown & Brown from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $94.00 to $112.00 in a report on Monday, August 12th. Finally, Raymond James increased their price objective on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Brown & Brown Stock Performance

BRO opened at $103.13 on Friday. 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 $29.42 billion, a P/E ratio of 31.73, a price-to-earnings-growth ratio of 2.34 and a beta of 0.83. The stock’s 50 day moving average price is $99.60 and its two-hundred day moving average price is $91.19. 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 (NYSE:BRO) last announced its earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping 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 previous year, the firm posted $0.68 earnings per share. Brown & Brown’s revenue was up 12.5% compared to the same quarter last year. On average, equities analysts forecast that Brown & Brown, Inc. will post 3.68 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, August 7th. Brown & Brown’s dividend payout ratio is currently 16.00%.

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.