Walleye Trading LLC Takes $217,000 Position in Brown & Brown, Inc. (NYSE:BRO)

Walleye Trading LLC bought a new stake in shares of Brown & Brown, Inc. (NYSE:BROGet Rating) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,717 shares of the financial services provider’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clear Street Markets LLC boosted its position in shares of Brown & Brown by 407.3% during the 2nd quarter. Clear Street Markets LLC now owns 487 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 391 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Brown & Brown by 259.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 499 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 360 shares during the last quarter. Quent Capital LLC boosted its position in shares of Brown & Brown by 82.2% during the 2nd quarter. Quent Capital LLC now owns 503 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 227 shares during the last quarter. Allworth Financial LP boosted its position in shares of Brown & Brown by 2,485.0% during the 2nd quarter. Allworth Financial LP now owns 517 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 497 shares during the last quarter. Finally, Destiny Wealth Partners LLC boosted its position in shares of Brown & Brown by 104.4% during the 2nd quarter. Destiny Wealth Partners LLC now owns 558 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 285 shares during the last quarter. 72.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BRO has been the subject of a number of analyst reports. UBS Group lowered their price target on Brown & Brown to $62.00 in a research report on Friday, November 4th. Morgan Stanley raised their price target on Brown & Brown from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, August 19th. Royal Bank of Canada lowered their price target on Brown & Brown from $66.00 to $62.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 26th. Jefferies Financial Group raised their price target on Brown & Brown from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, October 7th. Finally, Wells Fargo & Company lowered their price target on Brown & Brown from $66.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 26th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $67.38.

Brown & Brown Stock Performance

BRO stock opened at $56.94 on Friday. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.94. The business’s fifty day simple moving average is $59.70 and its two-hundred day simple moving average is $60.26. Brown & Brown, Inc. has a twelve month low of $52.91 and a twelve month high of $74.00. The firm has a market cap of $16.13 billion, a price-to-earnings ratio of 25.76 and a beta of 0.74.

Brown & Brown (NYSE:BROGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.10). The firm had revenue of $927.60 million for the quarter, compared to analysts’ expectations of $943.59 million. Brown & Brown had a net margin of 18.42% and a return on equity of 14.67%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.58 EPS. Analysts predict that Brown & Brown, Inc. will post 2.25 earnings per share for the current year.

Brown & Brown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 16th. Stockholders of record on Wednesday, November 2nd were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, November 1st. This represents a $0.46 annualized dividend and a dividend yield of 0.81%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.10. Brown & Brown’s dividend payout ratio (DPR) is currently 20.81%.

About Brown & Brown

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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.

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

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