Brown & Brown, Inc. $BRO Shares Purchased by Mather Group LLC.

Mather Group LLC. increased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 235.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 25,952 shares of the financial services provider’s stock after buying an additional 18,219 shares during the period. Mather Group LLC.’s holdings in Brown & Brown were worth $1,665,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Brown & Brown during the second quarter valued at $1,418,571,000. Principal Financial Group Inc. lifted its position in Brown & Brown by 1.6% during the first quarter. Principal Financial Group Inc. now owns 15,608,720 shares of the financial services provider’s stock valued at $1,017,847,000 after purchasing an additional 246,172 shares during the last quarter. Deutsche Bank AG bought a new position in Brown & Brown during the second quarter valued at $266,941,000. Bank of America Corp DE lifted its position in Brown & Brown by 45.2% during the first quarter. Bank of America Corp DE now owns 3,623,179 shares of the financial services provider’s stock valued at $236,268,000 after purchasing an additional 1,128,417 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Brown & Brown by 5.1% in the 1st quarter. Royal Bank of Canada now owns 3,569,784 shares of the financial services provider’s stock worth $232,786,000 after buying an additional 173,320 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 2.1%

Shares of Brown & Brown stock traded up $1.44 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 firm has a market cap of $23.23 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 2.12 and a beta of 0.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11. The firm’s 50-day moving average price is $67.21 and its two-hundred day moving average price is $64.92. Brown & Brown, Inc. has a 1 year low of $53.81 and a 1 year high of $90.46.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results 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). Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The business’s quarterly revenue was up 30.4% on a year-over-year basis. As a group, research analysts predict that Brown & Brown, Inc. will post 4.49 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

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

Analyst Ratings Changes

BRO has been the subject of a number of recent research reports. TD Cowen began coverage on shares of Brown & Brown in a research note on Monday. They issued a “buy” rating and a $82.00 price objective for the company. UBS Group restated a “neutral” rating and set a $73.00 target price (up from $65.00) on shares of Brown & Brown in a research report on Wednesday, July 8th. Royal Bank Of Canada restated a “sector perform” rating on shares of Brown & Brown in a research report on Wednesday, July 29th. Oppenheimer assumed coverage on shares of Brown & Brown in a report on Wednesday, October 7th. They issued an “outperform” rating and a $73.00 price target for the company. Finally, The Goldman Sachs Group increased their price target on shares of Brown & Brown from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. One equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $76.00.

Brown & Brown Profile

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.