Venturi Wealth Management LLC Has $681,000 Stake in Brown & Brown, Inc. (NYSE:BRO)

Venturi Wealth Management LLC boosted its position in Brown & Brown, Inc. (NYSE:BRO) by 50.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,573 shares of the financial services provider’s stock after buying an additional 2,199 shares during the period. Venturi Wealth Management LLC’s holdings in Brown & Brown were worth $681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its holdings in Brown & Brown by 2.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 267,190 shares of the financial services provider’s stock valued at $23,390,000 after buying an additional 6,613 shares during the period. Sei Investments Co. lifted its holdings in Brown & Brown by 12.7% in the first quarter. Sei Investments Co. now owns 276,090 shares of the financial services provider’s stock valued at $24,169,000 after buying an additional 31,071 shares during the period. Great Valley Advisor Group Inc. acquired a new position in Brown & Brown in the second quarter valued at $1,512,000. DekaBank Deutsche Girozentrale increased its stake in Brown & Brown by 12.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider’s stock valued at $21,855,000 after purchasing an additional 27,879 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in Brown & Brown by 6.0% in the first quarter. Avantax Advisory Services Inc. now owns 4,174 shares of the financial services provider’s stock valued at $365,000 after purchasing an additional 238 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Trading Down 0.5 %

Shares of BRO stock opened at $111.85 on Tuesday. Brown & Brown, Inc. has a 52-week low of $69.13 and a 52-week high of $114.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The company has a 50-day simple moving average of $104.89 and a two-hundred day simple moving average of $97.27. The company has a market capitalization of $31.98 billion, a price-to-earnings ratio of 30.48, a PEG ratio of 2.59 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts anticipate that Brown & Brown, Inc. will post 3.73 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Wednesday, November 6th. Brown & Brown’s dividend payout ratio is presently 16.35%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. Argus assumed coverage on shares of Brown & Brown in a research note on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price target for the company. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Royal Bank of Canada lifted their price target on shares of Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Bank of America lifted their price target on shares of Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and an average price target of $106.50.

Insiders Place Their Bets

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.02% of the stock is currently owned by insiders.

Brown & Brown Company 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.