Ashton Thomas Private Wealth LLC Acquires 215 Shares of Brown & Brown, Inc. (NYSE:BRO)

Ashton Thomas Private Wealth LLC boosted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 8.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,648 shares of the financial services provider’s stock after purchasing an additional 215 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Brown & Brown were worth $274,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in Brown & Brown by 19.4% during the first quarter. Empowered Funds LLC now owns 3,509 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 571 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Brown & Brown during the first quarter valued at about $32,000. Avantax Advisory Services Inc. increased its holdings in shares of Brown & Brown by 6.0% in the first quarter. Avantax Advisory Services Inc. now owns 4,174 shares of the financial services provider’s stock worth $365,000 after purchasing an additional 238 shares during the last quarter. Bleakley Financial Group LLC purchased a new stake in shares of Brown & Brown in the first quarter worth about $208,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Brown & Brown by 122.4% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 31,026 shares of the financial services provider’s stock valued at $2,716,000 after buying an additional 17,075 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BRO has been the topic of several recent research reports. Truist Financial upped their price objective on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods increased their price objective on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Jefferies Financial Group boosted their target price on Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Argus began coverage on Brown & Brown in a research note on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target for the company. Finally, Barclays started coverage on Brown & Brown in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 price objective on the stock. One 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $106.50.

Insider Activity at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction that occurred on Thursday, August 29th. The stock was 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 Securities & Exchange Commission, which can be accessed through this link. 17.02% of the stock is owned by insiders.

Brown & Brown Stock Down 2.1 %

Brown & Brown stock opened at $109.55 on Friday. The business has a fifty day moving average of $105.16 and a two-hundred day moving average of $97.59. The firm has a market cap of $31.33 billion, a P/E ratio of 29.85, a P/E/G ratio of 2.59 and a beta of 0.82. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a twelve month low of $69.13 and a twelve month high of $114.08.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. On average, analysts forecast that Brown & Brown, Inc. will post 3.73 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a dividend of $0.15 per share. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. Brown & Brown’s payout ratio is 16.35%.

Brown & Brown Company 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.