Triad Investment Management Increases Stock Holdings in Brown & Brown, Inc. $BRO

Triad Investment Management grew its holdings in Brown & Brown, Inc. (NYSE:BRO) by 31.0% during the first quarter, HoldingsChannel.com reports. The firm owned 70,885 shares of the financial services provider’s stock after acquiring an additional 16,763 shares during the quarter. Brown & Brown makes up about 5.1% of Triad Investment Management’s holdings, making the stock its 4th biggest holding. Triad Investment Management’s holdings in Brown & Brown were worth $4,622,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BRO. Darwin Wealth Management LLC purchased a new stake in shares of Brown & Brown during the second quarter valued at $30,000. Basepoint Wealth LLC purchased a new position in Brown & Brown in the 4th quarter worth about $27,000. Union Bancaire Privee UBP SA purchased a new position in Brown & Brown in the 1st quarter worth about $25,000. DV Equities LLC bought a new stake in Brown & Brown during the 4th quarter valued at about $33,000. Finally, Maseco LLP bought a new stake in Brown & Brown during the 4th quarter valued at about $60,000. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Down 3.5%

Shares of Brown & Brown stock opened at $66.53 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $104.25. The firm’s 50-day moving average is $61.63 and its two-hundred day moving average is $66.92. The stock has a market cap of $22.55 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 3.18 and a beta of 0.60.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the firm posted $1.29 EPS. The company’s revenue for the quarter was up 35.4% on a year-over-year basis. As a group, research analysts expect that Brown & Brown, Inc. will post 4.5 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 11th were paid a dividend of $0.165 per share. The ex-dividend date was Monday, May 11th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. Brown & Brown’s dividend payout ratio (DPR) is currently 21.22%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Truist Financial lowered their price objective on shares of Brown & Brown from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Bank of America reduced their target price on shares of Brown & Brown from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. UBS Group reaffirmed a “neutral” rating and set a $73.00 price target (up from $65.00) on shares of Brown & Brown in a research note on Wednesday, July 8th. The Goldman Sachs Group boosted their price target on Brown & Brown from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Finally, Raymond James Financial reissued an “outperform” rating on shares of Brown & Brown in a research note on Friday, June 26th. Five investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $78.62.

Insider Activity

In other Brown & Brown news, Director H Palmer Proctor, Jr. acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were bought at an average cost of $57.10 per share, with a total value of $114,200.00. Following the completion of the acquisition, the director directly owned 47,621 shares in the company, valued at $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 can be accessed through the SEC website. Corporate insiders own 13.13% of the company’s stock.

About Brown & Brown

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.