Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. increased its stake in Brown & Brown, Inc. (NYSE:BRO) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,929 shares of the financial services provider’s stock after purchasing an additional 113 shares during the period. Crossmark Global Holdings Inc.’s holdings in Brown & Brown were worth $2,375,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of BRO. Envestnet Portfolio Solutions Inc. boosted its stake in Brown & Brown by 9.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 16,718 shares of the financial services provider’s stock worth $1,464,000 after purchasing an additional 1,416 shares in the last quarter. Empowered Funds LLC boosted its stake in Brown & Brown by 19.4% in the 1st quarter. Empowered Funds LLC now owns 3,509 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 571 shares in the last quarter. Sei Investments Co. boosted its stake in Brown & Brown by 12.7% in the 1st quarter. Sei Investments Co. now owns 276,090 shares of the financial services provider’s stock worth $24,169,000 after purchasing an additional 31,071 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Brown & Brown in the 1st quarter worth approximately $32,000. Finally, QRG Capital Management Inc. raised its position in Brown & Brown by 5.9% during the 1st quarter. QRG Capital Management Inc. now owns 15,258 shares of the financial services provider’s stock worth $1,336,000 after buying an additional 845 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 17.02% of the stock is currently owned by corporate insiders.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $112.41 on Wednesday. The firm has a market cap of $32.14 billion, a PE ratio of 30.63, a PEG ratio of 2.59 and a beta of 0.82. The firm has a fifty day moving average of $105.04 and a 200 day moving average of $97.49. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. Brown & Brown, Inc. has a one year low of $69.13 and a one year high of $114.08.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. As a group, research analysts predict that Brown & Brown, Inc. will post 3.73 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.53%. The ex-dividend date is Wednesday, November 6th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s payout ratio is presently 16.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BRO shares. Bank of America raised their price target on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Wells Fargo & Company raised their price target 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. Raymond James raised their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Argus started coverage on shares of Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target for the company. Finally, Jefferies Financial Group raised their price target 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $106.50.

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.