Secured Retirement Advisors LLC Invests $672,000 in Brown & Brown, Inc. $BRO

Secured Retirement Advisors LLC acquired a new position in Brown & Brown, Inc. (NYSE:BRO) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,302 shares of the financial services provider’s stock, valued at approximately $672,000.

Several other large investors also recently modified their holdings of the company. Inspire Investing LLC grew its stake in shares of Brown & Brown by 22.6% during the 1st quarter. Inspire Investing LLC now owns 5,040 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 929 shares during the period. Lansforsakringar Fondforvaltning AB publ lifted its stake in shares of Brown & Brown by 0.6% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 89,091 shares of the financial services provider’s stock worth $5,810,000 after purchasing an additional 520 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of Brown & Brown by 67.4% in the 1st quarter. Apollon Wealth Management LLC now owns 5,208 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 2,096 shares during the period. Patton Fund Management Inc. boosted its holdings in shares of Brown & Brown by 10.6% in the first quarter. Patton Fund Management Inc. now owns 3,123 shares of the financial services provider’s stock worth $204,000 after buying an additional 299 shares during the last quarter. Finally, Red Door Wealth Management LLC boosted its holdings in shares of Brown & Brown by 13.2% in the first quarter. Red Door Wealth Management LLC now owns 3,393 shares of the financial services provider’s stock worth $221,000 after buying an additional 396 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. UBS Group reduced their target price on shares of Brown & Brown from $81.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, June 9th. Truist Financial dropped their price target on shares of Brown & Brown from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Citigroup started coverage on shares of Brown & Brown in a research report on Thursday, May 21st. They set a “market outperform” rating for the company. Wells Fargo & Company decreased their target price on Brown & Brown from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods lowered their target price on Brown & Brown from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $78.25.

Brown & Brown Price Performance

NYSE BRO opened at $67.31 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 12 month low of $53.81 and a 12 month high of $108.79. The stock has a market cap of $22.81 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 2.95 and a beta of 0.60. The company’s 50 day moving average is $59.65 and its two-hundred day moving average is $68.12.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The company’s revenue was up 35.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. As a group, research analysts anticipate that Brown & Brown, Inc. will post 4.52 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were issued a $0.165 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.66 annualized dividend and a yield of 1.0%. Brown & Brown’s dividend payout ratio is currently 21.22%.

Insider Transactions at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was acquired at an average price of $57.10 per share, for a total transaction of $114,200.00. Following the purchase, the director owned 47,621 shares of the company’s stock, valued at approximately $2,719,159.10. This represents a 4.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 13.13% of the company’s stock.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.