EULAV Asset Management Acquires Shares of 176,000 Brown & Brown, Inc. (NYSE:BRO)

EULAV Asset Management acquired a new position in Brown & Brown, Inc. (NYSE:BRO - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 176,000 shares of the financial services provider's stock, valued at approximately $18,234,000. EULAV Asset Management owned approximately 0.06% of Brown & Brown as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Crewe Advisors LLC raised its holdings 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. grew its position in Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider's stock worth $28,000 after purchasing an additional 200 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Brown & Brown during the 3rd quarter valued at approximately $29,000. Blue Trust Inc. lifted its stake in shares of Brown & Brown by 142.3% in 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 during the period. Finally, Larson Financial Group LLC boosted its holdings in Brown & Brown by 65.7% during the second quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider's stock worth $48,000 after buying an additional 211 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Brown & Brown Price Performance

NYSE BRO traded up $0.26 during trading hours on Wednesday, reaching $109.61. The company's stock had a trading volume of 1,021,961 shares, compared to its average volume of 1,315,857. 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 stock has a market cap of $31.34 billion, a PE ratio of 29.87, a PEG ratio of 2.54 and a beta of 0.82. The company's 50-day moving average is $105.80 and its two-hundred day moving average is $98.54. Brown & Brown, Inc. has a fifty-two week low of $69.13 and a fifty-two week high of $114.08.

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

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were issued a $0.15 dividend. The ex-dividend date was Wednesday, November 6th. This is an increase from Brown & Brown's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.55%. Brown & Brown's payout ratio is 16.35%.

Analyst Ratings Changes

BRO has been the subject of a number of analyst reports. 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 report on Thursday, October 10th. Raymond James lifted their price target on Brown & Brown from $95.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Truist Financial boosted their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their price target on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada lifted their target price on Brown & Brown from $113.00 to $118.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. 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 stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $106.50.

Insiders Place Their Bets

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the company's 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 16.43% of the company's stock.

Brown & Brown 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.