ORG Partners LLC Boosts Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

ORG Partners LLC boosted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 1,219.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,352 shares of the financial services provider’s stock after purchasing an additional 7,719 shares during the period. ORG Partners LLC’s holdings in Brown & Brown were worth $744,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in Brown & Brown in the fourth quarter worth approximately $26,900,000. Cerity Partners LLC grew its stake in shares of Brown & Brown by 155.8% in the 4th quarter. Cerity Partners LLC now owns 23,328 shares of the financial services provider’s stock worth $1,659,000 after buying an additional 14,210 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Brown & Brown in the 4th quarter worth about $1,017,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Brown & Brown by 2.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 657,284 shares of the financial services provider’s stock worth $46,739,000 after acquiring an additional 18,557 shares during the last quarter. Finally, Strs Ohio bought a new stake in Brown & Brown during the 4th quarter valued at about $1,935,000. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

BRO stock traded down $0.62 on Thursday, hitting $100.68. The company’s stock had a trading volume of 55,315 shares, compared to its average volume of 1,254,893. The firm has a 50 day moving average of $94.06 and a two-hundred day moving average of $87.78. Brown & Brown, Inc. has a 1 year low of $66.73 and a 1 year high of $103.16. The stock has a market cap of $28.72 billion, a price-to-earnings ratio of 31.17, a price-to-earnings-growth ratio of 2.50 and a beta of 0.82. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.14 billion. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 EPS. Equities analysts predict that Brown & Brown, Inc. will post 3.67 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.13 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.52 annualized dividend and a dividend yield of 0.52%. Brown & Brown’s dividend payout ratio is currently 16.00%.

Wall Street Analysts Forecast Growth

BRO has been the topic of a number of recent research reports. Bank of America upgraded shares of Brown & Brown from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $91.00 to $101.00 in a research note on Wednesday, May 22nd. Raymond James lifted their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. UBS Group lifted their target price on shares of Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Wells Fargo & Company raised shares of Brown & Brown from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $94.00 to $112.00 in a research note on Monday. Finally, Royal Bank of Canada boosted their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Brown & Brown presently has an average rating of “Hold” and an average price target of $99.20.

Insiders Place Their Bets

In related news, CFO R. Andrew Watts sold 2,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 88,445 shares of the company’s stock, valued at $8,872,802.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Brown & Brown news, EVP Julie Turpin sold 3,350 shares of Brown & Brown stock in a transaction on Friday, June 7th. The shares were sold at an average price of $89.92, for a total value of $301,232.00. Following the completion of the transaction, the executive vice president now owns 23,597 shares of the company’s stock, valued at $2,121,842.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the transaction, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. The disclosure for this sale can be found here. 17.02% of the stock is owned by corporate insiders.

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.