Point72 DIFC Ltd Invests $117,000 in Brown & Brown, Inc. (NYSE:BRO)

Point72 DIFC Ltd acquired a new stake in Brown & Brown, Inc. (NYSE:BRO) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,308 shares of the financial services provider’s stock, valued at approximately $117,000.

Several other institutional investors and hedge funds have also bought and sold shares of BRO. Crewe Advisors LLC raised its holdings in shares of Brown & Brown by 330.4% in the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 228 shares during the period. Headlands Technologies LLC bought a new position in shares of Brown & Brown during the 1st quarter worth approximately $32,000. Alaska Permanent Fund Corp acquired a new position in shares of Brown & Brown during the 1st quarter worth approximately $36,000. First PREMIER Bank bought a new stake in Brown & Brown in the 1st quarter valued at $40,000. Finally, Intelligent Financial Strategies acquired a new stake in Brown & Brown during the 1st quarter valued at $45,000. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on BRO. 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 on the stock. Royal Bank of Canada upped their target price on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Argus started coverage on Brown & Brown in a report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target for the company. Raymond James increased their price objective on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.67.

Brown & Brown Trading Up 1.4 %

Shares of BRO stock opened at $105.01 on Wednesday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $29.95 billion, a P/E ratio of 32.31, a P/E/G ratio of 2.40 and a beta of 0.83. Brown & Brown, Inc. has a twelve month low of $66.73 and a twelve month high of $106.02. The stock’s fifty day simple moving average is $101.89 and its 200 day simple moving average is $92.67.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.05. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 3.68 EPS for the current fiscal year.

Brown & Brown Announces Dividend

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

Insider Activity at Brown & Brown

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

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.