52,782 Shares in Brown & Brown, Inc. (NYSE:BRO) Acquired by Beacon Harbor Wealth Advisors Inc.

Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 52,782 shares of the financial services provider’s stock, valued at approximately $5,468,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Crewe Advisors LLC increased its position in Brown & Brown by 330.4% during the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 228 shares during the last quarter. ST Germain D J Co. Inc. grew its position in 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 valued at $28,000 after buying an additional 200 shares during the period. Headlands Technologies LLC bought a new stake in Brown & Brown during the first quarter valued at approximately $32,000. Blue Trust Inc. increased its holdings in Brown & Brown by 142.3% during 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 during the last quarter. Finally, Larson Financial Group LLC raised its position in Brown & Brown by 65.7% in the second quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 211 shares during the period. 71.01% of the stock is owned by institutional investors.

Brown & Brown Trading Down 0.4 %

BRO stock opened at $110.35 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market capitalization of $31.56 billion, a PE ratio of 30.07, a P/E/G ratio of 2.43 and a beta of 0.82. The firm’s 50-day moving average is $104.61 and its 200 day moving average is $96.65. Brown & Brown, Inc. has a 12 month low of $69.13 and a 12 month high of $114.08.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company posted $0.71 EPS. Brown & Brown’s revenue was up 11.0% on a year-over-year basis. On average, research analysts anticipate that Brown & Brown, Inc. will post 3.73 EPS for the current year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be paid a $0.15 dividend. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date is Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. Brown & Brown’s payout ratio is 14.17%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Argus assumed coverage on Brown & Brown in a research note on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective for the company. Royal Bank of Canada lifted their price objective on Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Raymond James lifted their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Truist Financial increased their price objective on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $106.50.

Insider Buying and Selling at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction on 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 available through the SEC website. Insiders own 16.43% of the company’s stock.

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.