Victory Capital Management Inc. Has $20.58 Million Position in Brown & Brown, Inc. (NYSE:BRO)

Victory Capital Management Inc. boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BROGet Rating) by 5.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,976 shares of the financial services provider’s stock after buying an additional 16,013 shares during the period. Victory Capital Management Inc. owned about 0.12% of Brown & Brown worth $20,576,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BRO. Commonwealth Equity Services LLC lifted its holdings in shares of Brown & Brown by 2.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 62,643 shares of the financial services provider’s stock valued at $4,402,000 after acquiring an additional 1,238 shares during the period. Summit Global Investments bought a new position in shares of Brown & Brown during the fourth quarter valued at $3,238,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of Brown & Brown by 68.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 16,400 shares of the financial services provider’s stock valued at $1,153,000 after acquiring an additional 6,644 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Brown & Brown by 3.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 64,398 shares of the financial services provider’s stock valued at $4,526,000 after acquiring an additional 1,855 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Brown & Brown by 19.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 26,147 shares of the financial services provider’s stock valued at $1,890,000 after acquiring an additional 4,269 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group assumed coverage on Brown & Brown in a report on Monday, April 18th. They set a “neutral” rating and a $76.00 price objective for the company. Jefferies Financial Group cut their price objective on Brown & Brown from $82.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, July 12th. Morgan Stanley cut their price target on Brown & Brown from $70.00 to $64.00 and set an “equal weight” rating for the company in a report on Monday, May 23rd. The Goldman Sachs Group began coverage on Brown & Brown in a report on Tuesday, July 12th. They issued a “neutral” rating and a $67.00 price target for the company. Finally, Wells Fargo & Company cut their price target on Brown & Brown to $66.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus target price of $69.00.

Insider Transactions at Brown & Brown

In related news, Director Lawrence L. Gellerstedt III bought 1,800 shares of the firm’s stock in a transaction dated Thursday, May 19th. The stock was bought at an average cost of $54.95 per share, for a total transaction of $98,910.00. Following the transaction, the director now owns 12,884 shares of the company’s stock, valued at $707,975.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 17.02% of the company’s stock.

Brown & Brown Stock Performance

Shares of NYSE:BRO opened at $64.31 on Friday. The stock has a market capitalization of $18.16 billion, a P/E ratio of 29.77 and a beta of 0.80. Brown & Brown, Inc. has a 1-year low of $52.91 and a 1-year high of $74.00. The company has a current ratio of 3.90, a quick ratio of 3.90 and a debt-to-equity ratio of 0.97. The business has a 50-day moving average price of $59.19 and a two-hundred day moving average price of $63.41.

Brown & Brown (NYSE:BROGet Rating) last announced its quarterly earnings data on Monday, July 25th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. The firm had revenue of $838.70 million during the quarter, compared to analysts’ expectations of $803.46 million. Brown & Brown had a return on equity of 15.36% and a net margin of 18.86%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 EPS. Equities analysts predict that Brown & Brown, Inc. will post 2.31 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 17th. Stockholders of record on Wednesday, August 10th will be given a dividend of $0.102 per share. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $0.41 annualized dividend and a dividend yield of 0.63%. Brown & Brown’s payout ratio is currently 18.98%.

Brown & Brown Profile

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

Further Reading

Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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