17,705 Shares in Brown & Brown, Inc. (NYSE:BRO) Acquired by Threadgill Financial LLC

Threadgill Financial LLC acquired a new stake in Brown & Brown, Inc. (NYSE:BROFree Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,705 shares of the financial services provider’s stock, valued at approximately $1,550,000. Brown & Brown comprises approximately 0.7% of Threadgill Financial LLC’s portfolio, making the stock its 24th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Brown & Brown in the fourth quarter worth about $217,663,000. Congress Asset Management Co. MA purchased a new position in shares of Brown & Brown during the fourth quarter worth approximately $82,445,000. The Manufacturers Life Insurance Company increased its position in shares of Brown & Brown by 76.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,000,227 shares of the financial services provider’s stock worth $142,236,000 after acquiring an additional 865,082 shares during the period. Confluence Investment Management LLC bought a new stake in shares of Brown & Brown during the first quarter valued at approximately $49,598,000. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Brown & Brown by 339.1% in the fourth quarter. Allianz Asset Management GmbH now owns 648,550 shares of the financial services provider’s stock valued at $46,118,000 after purchasing an additional 500,847 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.2 %

NYSE BRO traded up $0.15 on Friday, hitting $93.04. The stock had a trading volume of 1,921,661 shares, compared to its average volume of 1,284,794. Brown & Brown, Inc. has a 52-week low of $65.68 and a 52-week high of $93.11. The business’s fifty day moving average price is $87.03 and its 200 day moving average price is $81.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market cap of $26.54 billion, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82.

Brown & Brown (NYSE:BROGet Free Report) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.07. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the business earned $0.84 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities research analysts anticipate that Brown & Brown, Inc. will post 3.61 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Friday, May 3rd. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Analyst Upgrades and Downgrades

BRO has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their target price on Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Wells Fargo & Company upped their price objective on shares of Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. Citigroup raised their target price on shares of Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Keefe, Bruyette & Woods upped their price target on shares of Brown & Brown from $80.00 to $82.00 and gave the stock an “underperform” rating in a research report on Friday, May 3rd. Finally, Bank of America raised shares of Brown & Brown from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $91.00 to $101.00 in a report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $89.40.

Check Out Our Latest Report on Brown & Brown

Insiders Place Their Bets

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

Brown & Brown Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding BRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brown & Brown, Inc. (NYSE:BROFree Report).

Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

Receive News & Ratings for Brown & Brown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brown & Brown and related companies with MarketBeat.com's FREE daily email newsletter.