DRW Securities LLC Has $692,000 Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

DRW Securities LLC boosted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 81.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,677 shares of the financial services provider’s stock after buying an additional 2,999 shares during the period. DRW Securities LLC’s holdings in Brown & Brown were worth $692,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Crewe Advisors LLC raised its holdings in shares of Brown & Brown by 330.4% during the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 228 shares during the period. ST Germain D J Co. Inc. raised its stake in shares of Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Brown & Brown in the third quarter valued at about $29,000. Blue Trust Inc. boosted its position in shares of Brown & Brown by 142.3% during the second quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock worth $48,000 after buying an additional 323 shares during the period. Finally, Larson Financial Group LLC boosted its position in shares of Brown & Brown by 65.7% during the second quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock worth $48,000 after buying an additional 211 shares during the period. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BRO. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Jefferies Financial Group boosted their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Truist Financial raised their price objective on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Bank of America upped their target price on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company raised their price target on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $107.42.

Brown & Brown Stock Performance

BRO opened at $113.43 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 12-month low of $69.13 and a 12-month high of $114.08. The business has a 50 day moving average of $106.31 and a 200-day moving average of $99.20. The stock has a market cap of $32.44 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 2.57 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted $0.71 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. On average, equities research analysts expect that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a dividend of $0.15 per share. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 annualized dividend and a dividend yield of 0.53%. Brown & Brown’s payout ratio is presently 16.35%.

Insider Activity at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 16.43% of the stock is owned by company insiders.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.