DRW Securities LLC Has $692,000 Position in Brown & Brown, Inc. (NYSE:BRO)

DRW Securities LLC grew its holdings in Brown & Brown, Inc. (NYSE:BRO) by 81.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,677 shares of the financial services provider’s stock after buying an additional 2,999 shares during the quarter. DRW Securities LLC’s holdings in Brown & Brown were worth $692,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Crewe Advisors LLC raised its position in Brown & Brown by 330.4% in 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 in the last quarter. ST Germain D J Co. Inc. raised its holdings in shares of Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Brown & Brown during the 3rd quarter worth approximately $29,000. Blue Trust Inc. lifted its position in shares of Brown & Brown by 142.3% during the 2nd quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock worth $48,000 after buying an additional 323 shares during the period. Finally, Larson Financial Group LLC boosted its stake in 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 in the last quarter. 71.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Argus started coverage on Brown & Brown in a research note on Tuesday, September 24th. They set a “buy” rating and a $120.00 price objective for the company. Jefferies Financial Group lifted 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. Bank of America upped their price objective on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Royal Bank of Canada lifted their target price 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, Wells Fargo & Company increased their price target on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research report 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 given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $107.42.

Brown & Brown Stock Up 1.5 %

Shares of BRO opened at $113.43 on Wednesday. The firm has a market capitalization of $32.44 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 2.57 and a beta of 0.82. 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 business’s fifty day moving average price is $106.31 and its two-hundred day moving average price is $99.20.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. On average, analysts predict that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a $0.15 dividend. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.53%. The ex-dividend date was Wednesday, November 6th. Brown & Brown’s dividend payout ratio is currently 16.35%.

Insider Buying and Selling at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is accessible 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.