Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC reduced its stake in Brown & Brown, Inc. (NYSE:BRO) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,069 shares of the financial services provider’s stock after selling 107 shares during the period. Procyon Advisors LLC’s holdings in Brown & Brown were worth $2,492,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Crewe Advisors LLC raised its stake in Brown & Brown by 330.4% in the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after buying an additional 228 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Brown & Brown in the first quarter valued at $32,000. Alaska Permanent Fund Corp acquired a new stake in Brown & Brown in the first quarter valued at $36,000. First PREMIER Bank acquired a new stake in Brown & Brown in the first quarter valued at $40,000. Finally, Blue Trust Inc. raised its stake in Brown & Brown by 142.3% in the second 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 in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction that occurred 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 sale, the chief financial officer now owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the sale, the chief financial officer now owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.02% of the stock is owned by corporate insiders.

Brown & Brown Stock Performance

NYSE BRO opened at $106.00 on Tuesday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 52-week low of $66.73 and a 52-week high of $106.67. The business’s 50-day moving average price is $102.88 and its 200 day moving average price is $93.86. The firm has a market cap of $30.24 billion, a P/E ratio of 32.62, a P/E/G ratio of 2.45 and a beta of 0.83.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities research analysts expect that Brown & Brown, Inc. will post 3.69 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, August 7th. Brown & Brown’s dividend payout ratio is presently 16.00%.

Analysts Set New Price Targets

A number of research firms have weighed in on BRO. UBS Group raised their price target on Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Royal Bank of Canada raised their price objective on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Wells Fargo & Company raised their price objective on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Argus assumed coverage on Brown & Brown in a report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.33.

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.