Cresset Asset Management LLC Buys 5,062 Shares of Brown & Brown, Inc. (NYSE:BRO)

Cresset Asset Management LLC increased its stake in shares of Brown & Brown, Inc. (NYSE:BROFree Report) by 1.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 331,047 shares of the financial services provider’s stock after buying an additional 5,062 shares during the period. Cresset Asset Management LLC’s holdings in Brown & Brown were worth $23,541,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Capital Wealth Partners LLC boosted its holdings in Brown & Brown by 2.6% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 6,316 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 158 shares during the period. Tributary Capital Management LLC boosted its holdings in Brown & Brown by 1.1% in the 4th quarter. Tributary Capital Management LLC now owns 16,677 shares of the financial services provider’s stock valued at $1,186,000 after purchasing an additional 174 shares during the period. First Horizon Advisors Inc. boosted its holdings in Brown & Brown by 22.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,008 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 187 shares during the period. Xcel Wealth Management LLC boosted its holdings in Brown & Brown by 3.2% in the 4th quarter. Xcel Wealth Management LLC now owns 6,389 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 200 shares during the period. Finally, Czech National Bank boosted its holdings in Brown & Brown by 0.6% in the 4th quarter. Czech National Bank now owns 41,371 shares of the financial services provider’s stock valued at $2,942,000 after purchasing an additional 229 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Bank of America upgraded shares of Brown & Brown from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $91.00 to $101.00 in a research report on Wednesday, May 22nd. StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. Wells Fargo & Company boosted their target price on shares of Brown & Brown from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods boosted their target price on shares of Brown & Brown from $80.00 to $82.00 and gave the company an “underperform” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada upped their price objective on shares of Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $89.40.

View Our Latest Analysis on BRO

Insider Activity at Brown & Brown

In other Brown & Brown news, EVP Julie Turpin sold 3,350 shares of Brown & Brown stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $89.92, for a total value of $301,232.00. Following the sale, the executive vice president now owns 23,597 shares of the company’s stock, valued at $2,121,842.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 16.43% of the stock is owned by insiders.

Brown & Brown Trading Down 0.7 %

BRO opened at $89.64 on Tuesday. Brown & Brown, Inc. has a twelve month low of $63.37 and a twelve month high of $91.70. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $85.73 and a 200-day moving average of $80.85. The stock has a market cap of $25.57 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 2.37 and a beta of 0.82.

Brown & Brown (NYSE:BROGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the company posted $0.84 earnings per share. On average, sell-side analysts predict that Brown & Brown, Inc. will post 3.61 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Friday, May 3rd. Brown & Brown’s payout ratio is currently 16.00%.

Brown & Brown Company Profile

(Free Report)

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.

See Also

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

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