Segall Bryant & Hamill LLC Takes $13.06 Million Position in Brown & Brown, Inc. (NYSE:BRO)

Segall Bryant & Hamill LLC bought a new stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 126,094 shares of the financial services provider's stock, valued at approximately $13,063,000.

A number of other large investors also recently bought and sold shares of the stock. Great Valley Advisor Group Inc. acquired a new position in shares of Brown & Brown in the second quarter worth $1,512,000. DekaBank Deutsche Girozentrale raised its position in shares of Brown & Brown by 12.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider's stock worth $21,855,000 after acquiring an additional 27,879 shares in the last quarter. Natixis increased its stake in Brown & Brown by 220.5% in the first quarter. Natixis now owns 62,032 shares of the financial services provider's stock valued at $5,430,000 after purchasing an additional 42,677 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Brown & Brown by 162.3% during the second quarter. Assenagon Asset Management S.A. now owns 488,483 shares of the financial services provider's stock worth $43,675,000 after purchasing an additional 302,240 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Brown & Brown by 27.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 31,105 shares of the financial services provider's stock worth $2,781,000 after buying an additional 6,675 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Insider Buying and Selling

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the firm's 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 document filed with the SEC, which is accessible through this link. 17.02% of the stock is owned by insiders.

Analysts Set New Price Targets

BRO has been the topic of a number of recent research reports. 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 target price on the stock. Raymond James increased their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. Truist Financial upped their price objective on 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 lifted their target price on Brown & Brown from $112.00 to $114.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada upped their price target on Brown & Brown from $113.00 to $118.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $106.50.

Brown & Brown Stock Performance

Brown & Brown stock opened at $109.61 on Thursday. 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 stock has a market capitalization of $31.34 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 2.52 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. The stock has a 50-day simple moving average of $105.80 and a 200 day simple moving average of $98.54.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The business's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $0.71 earnings per share. On average, research analysts anticipate that Brown & Brown, Inc. will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.15 per share. 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 dividend payout ratio (DPR) is 16.35%.

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.