ORG Wealth Partners LLC Invests $674,000 in Brown & Brown, Inc. (NYSE:BRO)

ORG Wealth Partners LLC purchased a new stake in Brown & Brown, Inc. (NYSE:BRO) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,503 shares of the financial services provider’s stock, valued at approximately $674,000.

Other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its stake in shares of Brown & Brown by 2.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 267,190 shares of the financial services provider’s stock worth $23,390,000 after acquiring an additional 6,613 shares during the last quarter. Sei Investments Co. raised its position 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 during the last quarter. Great Valley Advisor Group Inc. bought a new position in Brown & Brown in the 2nd quarter worth approximately $1,512,000. DekaBank Deutsche Girozentrale lifted its holdings in Brown & Brown by 12.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider’s stock worth $21,855,000 after buying an additional 27,879 shares in the last quarter. Finally, Norden Group LLC boosted its position in Brown & Brown by 2,650.9% in the 1st quarter. Norden Group LLC now owns 99,856 shares of the financial services provider’s stock valued at $8,741,000 after buying an additional 96,226 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BRO shares. Bank of America boosted their target price on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Jefferies Financial Group raised their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Raymond James lifted 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. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Brown & Brown presently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Brown & Brown Trading Up 1.0 %

Shares of NYSE:BRO opened at $104.75 on Monday. The firm has a market cap of $29.88 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 2.45 and a beta of 0.83. Brown & Brown, Inc. has a 12 month low of $66.73 and a 12 month high of $106.67. The company’s fifty day simple moving average is $102.88 and its 200 day simple moving average is $93.86. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.05. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. As a group, research analysts forecast that Brown & Brown, Inc. will post 3.69 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, August 7th. Brown & Brown’s payout ratio is 16.00%.

Insiders Place Their Bets

In other news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction that occurred on Thursday, August 29th. The shares were 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 SEC, which can be accessed through the SEC website. In other news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the completion of the sale, the chief financial officer now directly owns 88,445 shares in the company, valued at approximately $8,872,802.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.02% of the company’s stock.

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.