Park Place Capital Corp Has $102,000 Stake in Brown & Brown, Inc. (NYSE:BRO)

Park Place Capital Corp boosted its position in Brown & Brown, Inc. (NYSE:BRO) by 128.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,163 shares of the financial services provider’s stock after purchasing an additional 654 shares during the period. Park Place Capital Corp’s holdings in Brown & Brown were worth $102,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BRO. Fortitude Family Office LLC acquired a new position in Brown & Brown in the fourth quarter valued at $31,000. Alaska Permanent Fund Corp acquired a new position in Brown & Brown in the first quarter valued at $36,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Brown & Brown by 174.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock valued at $39,000 after buying an additional 348 shares during the period. First PREMIER Bank acquired a new position in Brown & Brown in the first quarter valued at $40,000. Finally, Mendota Financial Group LLC acquired a new position in Brown & Brown in the fourth quarter valued at $42,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BRO shares. Raymond James upped their price objective on shares of Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Citigroup upped their price objective on shares of Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 31st. Truist Financial upped their price objective on shares of Brown & Brown from $92.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Keefe, Bruyette & Woods upped their price objective on shares of Brown & Brown from $80.00 to $82.00 and gave the company an “underperform” rating in a report on Friday, May 3rd. Finally, Wells Fargo & Company upped their price objective on shares of Brown & Brown from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Brown & Brown has a consensus rating of “Hold” and a consensus target price of $89.40.

Insider Activity

In other news, EVP Julie Turpin sold 3,350 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $89.92, for a total transaction of $301,232.00. Following the completion of the transaction, the executive vice president now directly owns 23,597 shares of the company’s stock, valued at approximately $2,121,842.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.43% of the company’s stock.

Brown & Brown Stock Down 0.3 %

Shares of BRO traded down $0.30 on Monday, reaching $89.11. The company’s stock had a trading volume of 1,098,928 shares, compared to its average volume of 1,286,505. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a twelve month low of $66.53 and a twelve month high of $93.75. The stock has a market capitalization of $25.42 billion, a PE ratio of 27.42, a PEG ratio of 2.35 and a beta of 0.82. The firm has a fifty day moving average of $88.01 and a 200-day moving average of $82.52.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm posted $0.84 EPS. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities analysts predict that Brown & Brown, Inc. will post 3.61 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Friday, May 3rd. Brown & Brown’s dividend payout ratio is currently 16.00%.

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.