First Hawaiian Bank Buys 5,675 Shares of Brown & Brown, Inc. (NYSE:BRO)

First Hawaiian Bank lifted its stake in Brown & Brown, Inc. (NYSE:BRO) by 43.7% during the second quarter, HoldingsChannel.com reports. The firm owned 18,650 shares of the financial services provider’s stock after purchasing an additional 5,675 shares during the quarter. First Hawaiian Bank’s holdings in Brown & Brown were worth $1,284,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. ProShare Advisors LLC boosted its position in shares of Brown & Brown by 13.4% in the 1st quarter. ProShare Advisors LLC now owns 2,971,635 shares of the financial services provider’s stock worth $170,631,000 after purchasing an additional 351,666 shares in the last quarter. Toroso Investments LLC lifted its position in Brown & Brown by 92.9% in the 1st quarter. Toroso Investments LLC now owns 10,743 shares of the financial services provider’s stock valued at $617,000 after acquiring an additional 5,173 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Brown & Brown by 1.1% in the 1st quarter. Ameriprise Financial Inc. now owns 647,331 shares of the financial services provider’s stock valued at $37,170,000 after acquiring an additional 7,213 shares in the last quarter. SkyView Investment Advisors LLC bought a new position in Brown & Brown in the 1st quarter valued at approximately $367,000. Finally, JPMorgan Chase & Co. lifted its position in Brown & Brown by 15.1% in the 1st quarter. JPMorgan Chase & Co. now owns 499,693 shares of the financial services provider’s stock valued at $28,694,000 after acquiring an additional 65,699 shares in the last quarter. 70.33% of the stock is owned by institutional investors.

Brown & Brown Trading Down 0.9 %

NYSE:BRO opened at $72.63 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.78 and a quick ratio of 2.78. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of 28.15 and a beta of 0.75. Brown & Brown, Inc. has a one year low of $52.82 and a one year high of $74.57. The business has a fifty day moving average price of $71.54 and a 200-day moving average price of $65.14.

Brown & Brown (NYSE:BRO) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $997.51 million. Brown & Brown had a net margin of 18.34% and a return on equity of 15.19%. Brown & Brown’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 EPS. Sell-side analysts forecast that Brown & Brown, Inc. will post 2.69 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Investors of record on Wednesday, August 9th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.63%. The ex-dividend date was Tuesday, August 8th. Brown & Brown’s dividend payout ratio is currently 17.83%.

Insider Buying and Selling

In other news, Director Bronislaw Edmund Masojada bought 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was bought at an average price of $65.78 per share, with a total value of $263,120.00. Following the acquisition, the director now owns 4,000 shares of the company’s stock, valued at approximately $263,120. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BRO shares. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research report on Tuesday, August 29th. Truist Financial reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Brown & Brown in a research report on Friday. Wells Fargo & Company boosted their target price on shares of Brown & Brown from $62.00 to $70.00 in a research note on Wednesday, July 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 target price on shares of Brown & Brown in a research note on Friday. Finally, Citigroup boosted their target price on shares of Brown & Brown from $72.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.70.

Brown & Brown 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.