Brown & Brown, Inc. $BRO Holdings Lifted by Krilogy Financial LLC

Krilogy Financial LLC lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 149.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,518 shares of the financial services provider’s stock after buying an additional 8,687 shares during the quarter. Krilogy Financial LLC’s holdings in Brown & Brown were worth $884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of BRO. Rathbones Group PLC raised its stake in Brown & Brown by 17.7% in the 1st quarter. Rathbones Group PLC now owns 1,154,219 shares of the financial services provider’s stock worth $75,267,000 after purchasing an additional 173,265 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Brown & Brown by 7,129.0% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 95,062 shares of the financial services provider’s stock valued at $5,789,000 after purchasing an additional 93,747 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Brown & Brown by 6,588.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 289,013 shares of the financial services provider’s stock valued at $18,540,000 after purchasing an additional 284,692 shares during the period. Renaissance Technologies LLC boosted its holdings in Brown & Brown by 46.5% in the 1st quarter. Renaissance Technologies LLC now owns 1,573,902 shares of the financial services provider’s stock valued at $102,634,000 after purchasing an additional 499,902 shares during the period. Finally, Swiss National Bank grew its position in shares of Brown & Brown by 7.3% during the 1st quarter. Swiss National Bank now owns 851,700 shares of the financial services provider’s stock worth $55,539,000 after purchasing an additional 58,100 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Price Performance

BRO stock traded up $1.44 during midday trading on Friday, reaching $69.42. The company had a trading volume of 2,220,368 shares, compared to its average volume of 2,491,204. The company has a market capitalization of $23.23 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 2.12 and a beta of 0.60. The stock has a 50 day moving average price of $67.21 and a 200-day moving average price of $64.92. Brown & Brown, Inc. has a 1-year low of $53.81 and a 1-year high of $90.46. 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 (NYSE:BRO) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.71 billion. Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. Equities research analysts expect that Brown & Brown, Inc. will post 4.49 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were given a $0.1650 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. Brown & Brown’s payout ratio is presently 20.82%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Monday, October 12th. TD Cowen initiated coverage on shares of Brown & Brown in a research report on Monday. They issued a “buy” rating and a $82.00 price target for the company. Mizuho reduced their price target on Brown & Brown from $83.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 7th. Keefe, Bruyette & Woods raised Brown & Brown from an “underperform” rating to an “outperform” rating and set a $77.00 price target on the stock in a research report on Monday, October 12th. Finally, Oppenheimer assumed coverage on Brown & Brown in a research note on Wednesday, October 7th. They set an “outperform” rating and a $73.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $76.00.

About Brown & Brown

Brown & Brown, Inc is an independent insurance brokerage, risk management and employee benefits firm headquartered in Daytona Beach, Florida. The company helps businesses, public entities and individuals identify, manage and transfer risk through insurance placement, risk consulting and related services.

Its offerings include property and casualty insurance, employee benefits, personal insurance, surety products, risk management services and specialized insurance programs. Brown & Brown also operates wholesale brokerage businesses that provide coverage solutions and access to insurance markets for retail agents and brokers, including products designed for specialty and hard-to-place risks.

Founded in 1939 by J.