Twin Capital Management Inc. Acquires Shares of 17,544 Brown & Brown, Inc. (NYSE:BRO)

Twin Capital Management Inc. bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the first quarter, Holdings Channel reports. The firm bought 17,544 shares of the financial services provider’s stock, valued at approximately $1,536,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lake Street Advisors Group LLC bought a new position in shares of Brown & Brown in the 1st quarter worth $204,000. UniSuper Management Pty Ltd boosted its holdings in Brown & Brown by 429.7% during the first quarter. UniSuper Management Pty Ltd now owns 13,751 shares of the financial services provider’s stock worth $1,204,000 after buying an additional 11,155 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Brown & Brown by 19.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 19,475 shares of the financial services provider’s stock worth $1,705,000 after buying an additional 3,139 shares during the period. Penobscot Investment Management Company Inc. increased its stake in shares of Brown & Brown by 14.4% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 21,118 shares of the financial services provider’s stock valued at $1,849,000 after acquiring an additional 2,665 shares during the last quarter. Finally, Cynosure Group LLC bought a new stake in shares of Brown & Brown in the 1st quarter valued at about $318,000. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Down 0.5 %

Shares of Brown & Brown stock traded down $0.49 during trading on Wednesday, reaching $97.56. The stock had a trading volume of 1,728,873 shares, compared to its average volume of 1,265,390. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $27.83 billion, a price-to-earnings ratio of 30.02, a P/E/G ratio of 2.47 and a beta of 0.82. The stock has a fifty day moving average price of $90.75 and a two-hundred day moving average price of $85.09. Brown & Brown, Inc. has a 52 week low of $66.73 and a 52 week high of $99.08.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.88 by $0.05. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Brown & Brown had a return on equity of 17.40% and a net margin of 21.95%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS. Sell-side analysts predict that Brown & Brown, Inc. will post 3.61 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.52 annualized dividend and a yield of 0.53%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BRO. Bank of America upgraded shares of Brown & Brown from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $91.00 to $101.00 in a report on Wednesday, May 22nd. UBS Group boosted their price target on shares of Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Raymond James raised their price objective on Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods lifted their target price on Brown & Brown from $80.00 to $82.00 and gave the stock an “underperform” rating in a report on Friday, May 3rd. Finally, Citigroup increased their price target on Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and a consensus target price of $94.90.

Insider Buying and Selling at Brown & Brown

In other news, EVP Julie Turpin sold 3,350 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $89.92, for a total value of $301,232.00. Following the completion of the sale, the executive vice president now owns 23,597 shares of the company’s stock, valued at approximately $2,121,842.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 17.02% 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.