Anchor Investment Management LLC Has $294,000 Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Anchor Investment Management LLC lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,286 shares of the financial services provider’s stock after acquiring an additional 125 shares during the period. Anchor Investment Management LLC’s holdings in Brown & Brown were worth $294,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC raised its holdings in shares of 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 buying an additional 228 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Brown & Brown during the 1st quarter worth $32,000. Alaska Permanent Fund Corp acquired a new position in shares of Brown & Brown during the 1st quarter worth $36,000. First PREMIER Bank acquired a new position in Brown & Brown in the 1st quarter worth about $40,000. Finally, Intelligent Financial Strategies acquired a new position in Brown & Brown in the 1st quarter worth about $45,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BRO shares. Truist Financial upped their target price on Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada upped their target price on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Argus started coverage on Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 target price for the company. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Finally, Barclays started coverage on Brown & Brown in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.67.

Brown & Brown Stock Performance

NYSE BRO opened at $105.65 on Friday. Brown & Brown, Inc. has a 1 year low of $66.73 and a 1 year high of $106.02. 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 $30.14 billion, a PE ratio of 32.51, a P/E/G ratio of 2.38 and a beta of 0.83. The company’s 50 day simple moving average is $102.45 and its two-hundred day simple moving average is $93.12.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate 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 quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. Analysts predict that Brown & Brown, Inc. will post 3.68 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, August 7th. Brown & Brown’s payout ratio is presently 16.00%.

Insider Buying and Selling

In related news, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction 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 transaction, the chief financial officer now owns 88,445 shares in the company, valued at $8,872,802.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the firm’s stock in a transaction 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. 17.02% of the stock is owned by corporate insiders.

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.