Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Commerce Bank

Commerce Bank lifted its position in Brown & Brown, Inc. (NYSE:BRO) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,887 shares of the financial services provider’s stock after purchasing an additional 438 shares during the period. Commerce Bank’s holdings in Brown & Brown were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Great Valley Advisor Group Inc. acquired a new position in shares of Brown & Brown in the 2nd quarter valued at $1,512,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Brown & Brown by 12.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider’s stock valued at $21,855,000 after purchasing an additional 27,879 shares during the period. Assenagon Asset Management S.A. raised its position in Brown & Brown by 162.3% during the second quarter. Assenagon Asset Management S.A. now owns 488,483 shares of the financial services provider’s stock worth $43,675,000 after acquiring an additional 302,240 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in Brown & Brown by 27.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 31,105 shares of the financial services provider’s stock worth $2,781,000 after acquiring an additional 6,675 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Brown & Brown by 8.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,553,396 shares of the financial services provider’s stock worth $138,899,000 after acquiring an additional 114,688 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Trading Up 1.2 %

Shares of BRO opened at $112.05 on Monday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 12-month low of $69.13 and a 12-month high of $114.08. The firm has a 50-day moving average price of $106.16 and a 200 day moving average price of $98.92. The firm has a market capitalization of $32.04 billion, a P/E ratio of 30.53, a P/E/G ratio of 2.55 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Brown & Brown’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts forecast that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a $0.15 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio is currently 16.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Barclays upped their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wells Fargo & Company upped their price objective on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Jefferies Financial Group upped their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Truist Financial upped their price objective on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $107.42.

Insider Activity at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 17.02% of the stock is currently owned by 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.