Radnor Capital Management LLC Purchases New Shares in Brown & Brown, Inc. (NYSE:BRO)

Radnor Capital Management LLC acquired a new position in Brown & Brown, Inc. (NYSE:BRO - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,190 shares of the financial services provider's stock, valued at approximately $538,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. ST Germain D J Co. Inc. increased its holdings in shares of 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 valued at $28,000 after acquiring an additional 200 shares during the last quarter. Crewe Advisors LLC grew its holdings in Brown & Brown by 330.4% during the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 228 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Brown & Brown in the first quarter valued at approximately $32,000. Larson Financial Group LLC lifted its stake in shares of Brown & Brown by 65.7% in 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 during the last quarter. Finally, Blue Trust Inc. grew its stake in 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 buying an additional 323 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

BRO has been the subject of a number of research analyst reports. Royal Bank of Canada boosted their target price on shares of Brown & Brown from $113.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Raymond James boosted their price objective on Brown & Brown from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. Jefferies Financial Group raised their target price on Brown & Brown from $98.00 to $104.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. StockNews.com lowered Brown & Brown from a "buy" rating to a "hold" rating in a report on Saturday, November 2nd. Finally, Barclays started coverage on shares of Brown & Brown in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $108.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $106.50.

Insiders Place Their Bets

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 16.43% of the company's stock.

Brown & Brown Stock Performance

BRO traded down $0.05 during trading on Thursday, reaching $110.76. 420,742 shares of the company's stock were exchanged, compared to its average volume of 1,319,782. Brown & Brown, Inc. has a fifty-two week low of $69.13 and a fifty-two week high of $114.08. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $104.49 and a 200 day moving average price of $96.56. The company has a market capitalization of $31.67 billion, a P/E ratio of 30.20, a PEG ratio of 2.43 and a beta of 0.82.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results 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. 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 the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company earned $0.71 earnings per share. The business's revenue was up 11.0% compared to the same quarter last year. As a group, analysts predict that Brown & Brown, Inc. will post 3.73 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. This is an increase from Brown & Brown's previous quarterly dividend of $0.13. Brown & Brown's payout ratio is currently 14.17%.

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.