Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its stake in Brown & Brown, Inc. (NYSE:BRO) by 1.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 319,278 shares of the financial services provider’s stock after selling 5,806 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Brown & Brown were worth $33,077,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. grew its stake in Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Crewe Advisors LLC boosted its stake in 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 purchasing an additional 228 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Brown & Brown during the 1st quarter worth $32,000. Larson Financial Group LLC boosted its stake in Brown & Brown by 65.7% during the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 211 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Brown & Brown by 142.3% during the 2nd quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 323 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.02% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their target price on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Jefferies Financial Group lifted their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Bank of America lifted their price target on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price target on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and a consensus target price of $106.50.

Brown & Brown Stock Up 1.2 %

Shares of BRO opened at $105.45 on Tuesday. The firm has a market cap of $30.15 billion, a P/E ratio of 28.73, a price-to-earnings-growth ratio of 2.41 and a beta of 0.82. Brown & Brown, Inc. has a 12-month low of $69.13 and a 12-month high of $107.67. The company’s 50-day moving average price is $104.26 and its 200 day moving average price is $96.28. The company has a current ratio of 1.73, a quick ratio of 2.35 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $1.19 billion for 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%. Brown & Brown’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS. On average, sell-side analysts forecast that Brown & Brown, Inc. will post 3.73 earnings per share for the current year.

Brown & Brown Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be given a $0.15 dividend. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.57%. The ex-dividend date is Wednesday, November 6th. Brown & Brown’s payout ratio is currently 16.35%.

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.