Sanctuary Advisors LLC Makes New $10.34 Million Investment in Brown & Brown, Inc. $BRO

Sanctuary Advisors LLC acquired a new stake in Brown & Brown, Inc. (NYSE:BRO) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 161,198 shares of the financial services provider’s stock, valued at approximately $10,341,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BRO. Darwin Wealth Management LLC purchased a new stake in shares of Brown & Brown during the second quarter worth about $30,000. Basepoint Wealth LLC purchased a new position in Brown & Brown during the 4th quarter valued at about $27,000. Union Bancaire Privee UBP SA purchased a new position in Brown & Brown during the 1st quarter valued at about $25,000. DV Equities LLC bought a new position in Brown & Brown during the 4th quarter valued at approximately $33,000. Finally, Allied Private Wealth LLC bought a new position in Brown & Brown during the 2nd quarter valued at approximately $35,000. 71.01% of the stock is owned by institutional investors.

Brown & Brown Stock Performance

Shares of BRO opened at $74.64 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11. Brown & Brown, Inc. has a one year low of $53.81 and a one year high of $97.73. The company has a 50-day simple moving average of $67.97 and a two-hundred day simple moving average of $65.77. The firm has a market capitalization of $24.97 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 3.63 and a beta of 0.59.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%.The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company posted $1.03 EPS. The firm’s revenue was up 30.4% on a year-over-year basis. On average, analysts anticipate that Brown & Brown, Inc. will post 4.5 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 12th were given a dividend of $0.165 per share. The ex-dividend date was Wednesday, August 12th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. Brown & Brown’s payout ratio is currently 20.82%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a research report on Friday, June 26th. BMO Capital Markets upped their target price on Brown & Brown from $73.00 to $74.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Citizens Jmp upped their target price on Brown & Brown from $70.00 to $78.00 and gave the company a “market outperform” rating in a report on Friday, July 10th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Brown & Brown in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company cut their price target on shares of Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating on the stock in a report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $76.80.

Brown & Brown Company 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.