Brown & Brown, Inc. (NYSE:BRO) Stock Holdings Trimmed by SRN Advisors LLC

SRN Advisors LLC lessened its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,223 shares of the financial services provider’s stock after selling 483 shares during the period. SRN Advisors LLC’s holdings in Brown & Brown were worth $1,163,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC lifted its stake in 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 purchasing an additional 228 shares during the last quarter. ST Germain D J Co. Inc. raised its holdings in shares of Brown & Brown by 298.5% during the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 200 shares during the period. Headlands Technologies LLC bought a new position in shares of Brown & Brown in the 1st quarter worth about $32,000. Blue Trust Inc. boosted its holdings in shares of Brown & Brown by 142.3% in the 2nd quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock valued at $48,000 after buying an additional 323 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Brown & Brown by 65.7% in the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after buying an additional 211 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Transactions at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction dated 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 accessible through this link. In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the transaction, the chief financial officer now owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Hyatt J. Brown sold 134,640 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The disclosure for this sale can be found here. Company insiders own 17.02% of the company’s stock.

Wall Street Analysts Forecast Growth

BRO has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their target price on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Raymond James raised their price target on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company boosted their price objective on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Jefferies Financial Group boosted their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. One 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’s stock. According to MarketBeat, Brown & Brown has a consensus rating of “Hold” and a consensus target price of $105.67.

Brown & Brown Trading Down 1.2 %

Brown & Brown stock opened at $103.98 on Friday. Brown & Brown, Inc. has a 12-month low of $67.30 and a 12-month high of $107.67. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35. The stock has a market capitalization of $29.66 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 2.48 and a beta of 0.83. The firm has a 50 day simple moving average of $104.03 and a 200-day simple moving average of $95.21.

Brown & Brown Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.58%. Brown & Brown’s dividend payout ratio (DPR) is 14.94%.

About Brown & Brown

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.