Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Whittier Trust Co.

Whittier Trust Co. raised its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 3.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 180,784 shares of the financial services provider’s stock after buying an additional 6,318 shares during the period. Whittier Trust Co. owned about 0.06% of Brown & Brown worth $18,729,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Brown & Brown by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 28,355,305 shares of the financial services provider’s stock valued at $2,482,223,000 after buying an additional 203,105 shares during the last quarter. Principal Financial Group Inc. increased its stake in Brown & Brown by 0.7% during the 2nd quarter. Principal Financial Group Inc. now owns 12,804,979 shares of the financial services provider’s stock worth $1,144,893,000 after buying an additional 86,824 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Brown & Brown by 0.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider’s stock worth $405,638,000 after buying an additional 28,180 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Brown & Brown by 24.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock worth $311,979,000 after buying an additional 687,783 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in Brown & Brown by 105.1% during the 2nd quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock worth $184,930,000 after buying an additional 1,059,711 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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. Also, 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 disclosure for this sale can be found here. Corporate insiders own 17.02% of the company’s stock.

Brown & Brown Stock Performance

NYSE BRO traded down $0.40 during trading hours on Monday, hitting $105.99. The company had a trading volume of 436,186 shares, compared to its average volume of 1,313,452. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. Brown & Brown, Inc. has a 1-year low of $66.73 and a 1-year high of $107.67. The company has a market cap of $30.23 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. The business has a 50 day moving average of $103.57 and a 200-day moving average of $94.56.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company posted $0.68 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. As a group, equities research analysts expect that Brown & Brown, Inc. will post 3.69 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Jefferies Financial Group boosted their target price on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Raymond James boosted their target price 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 upped their price objective on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Royal Bank of Canada upped their price objective on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, UBS Group upped their price objective on Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $105.67.

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.