iSAM Funds UK Ltd Acquires New Stake in Brown & Brown, Inc. $BRO

iSAM Funds UK Ltd bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 44,775 shares of the financial services provider’s stock, valued at approximately $4,964,000. Brown & Brown comprises approximately 1.1% of iSAM Funds UK Ltd’s portfolio, making the stock its largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in Brown & Brown by 4.3% during the second quarter. Parallel Advisors LLC now owns 2,508 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 103 shares during the period. Covestor Ltd grew its holdings in shares of Brown & Brown by 12.6% in the first quarter. Covestor Ltd now owns 937 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 105 shares in the last quarter. Tower Wealth Partners Inc. grew its holdings in shares of Brown & Brown by 4.6% in the second quarter. Tower Wealth Partners Inc. now owns 2,464 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 108 shares in the last quarter. Western Wealth Management LLC increased its stake in Brown & Brown by 6.0% during the 2nd quarter. Western Wealth Management LLC now owns 1,902 shares of the financial services provider’s stock worth $211,000 after buying an additional 108 shares during the period. Finally, Kingsview Wealth Management LLC lifted its holdings in Brown & Brown by 2.2% during the 2nd quarter. Kingsview Wealth Management LLC now owns 5,267 shares of the financial services provider’s stock worth $584,000 after buying an additional 114 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley decreased their price target on shares of Brown & Brown from $95.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, November 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brown & Brown in a research note on Tuesday, December 2nd. Barclays lowered their target price on Brown & Brown from $102.00 to $84.00 and set an “equal weight” rating for the company in a research note on Thursday, November 20th. Wall Street Zen upgraded Brown & Brown from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Finally, Wells Fargo & Company decreased their price objective on Brown & Brown from $98.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 29th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Brown & Brown has a consensus rating of “Hold” and a consensus target price of $102.69.

Brown & Brown Stock Down 0.9%

Shares of NYSE BRO opened at $77.63 on Tuesday. The business has a 50-day moving average of $84.61 and a two-hundred day moving average of $95.33. The company has a market capitalization of $26.50 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 1.83 and a beta of 0.82. Brown & Brown, Inc. has a 1 year low of $76.17 and a 1 year high of $125.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 2.10.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.15. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The business’s quarterly revenue was up 35.4% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. On average, analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, November 5th. This is an increase from Brown & Brown’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Brown & Brown’s dividend payout ratio is 19.76%.

Brown & Brown Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.