WealthPlan Investment Management LLC Raises Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

WealthPlan Investment Management LLC boosted its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,324 shares of the financial services provider's stock after purchasing an additional 5,709 shares during the period. Brown & Brown comprises 1.1% of WealthPlan Investment Management LLC's holdings, making the stock its 22nd largest position. WealthPlan Investment Management LLC's holdings in Brown & Brown were worth $11,326,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Crewe Advisors LLC grew its stake in shares of Brown & Brown by 330.4% during the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider's stock worth $27,000 after acquiring an additional 228 shares during the period. ST Germain D J Co. Inc. increased its position in shares of 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. Ashton Thomas Securities LLC bought a new position in shares of Brown & Brown in the third quarter valued at approximately $29,000. Headlands Technologies LLC purchased a new position in Brown & Brown during the first quarter valued at approximately $32,000. Finally, Blue Trust Inc. grew 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 valued at $48,000 after purchasing an additional 323 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BRO shares. Argus began coverage on Brown & Brown in a report on Tuesday, September 24th. They set a "buy" rating and a $120.00 price objective for the company. Barclays started coverage on shares of Brown & Brown in a report on Wednesday, September 4th. They issued an "equal weight" rating and a $108.00 price target on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an "underperform" rating in a report on Friday, July 26th. Wells Fargo & Company upped their target price on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group raised their price target on Brown & Brown from $98.00 to $104.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. 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's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $106.50.

Brown & Brown Trading Up 0.5 %

BRO traded up $0.54 on Tuesday, hitting $112.39. 177,990 shares of the company were exchanged, compared to its average volume of 1,317,073. 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 firm has a fifty day simple moving average of $104.89 and a two-hundred day simple moving average of $97.27. The stock has a market capitalization of $32.14 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 2.59 and a beta of 0.82. Brown & Brown, Inc. has a 12 month low of $69.13 and a 12 month high of $114.08.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter last year, the business earned $0.71 earnings per share. The business's revenue was up 11.0% on a year-over-year basis. Sell-side analysts expect that Brown & Brown, Inc. will post 3.73 earnings per share for the current year.

Brown & Brown Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, November 6th. This is a positive change from Brown & Brown's previous quarterly dividend of $0.13. Brown & Brown's dividend payout ratio (DPR) is 16.35%.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 17.02% of the company's stock.

About Brown & Brown

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.