Park Place Capital Corp Has $102,000 Holdings in Brown & Brown, Inc. (NYSE:BRO)

Park Place Capital Corp lifted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 128.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,163 shares of the financial services provider’s stock after acquiring an additional 654 shares during the quarter. Park Place Capital Corp’s holdings in Brown & Brown were worth $102,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Legacy Capital Wealth Partners LLC boosted its holdings in shares of Brown & Brown by 2.6% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 6,316 shares of the financial services provider’s stock worth $449,000 after acquiring an additional 158 shares in the last quarter. Tributary Capital Management LLC raised its position in Brown & Brown by 1.1% in the 4th quarter. Tributary Capital Management LLC now owns 16,677 shares of the financial services provider’s stock worth $1,186,000 after purchasing an additional 174 shares during the last quarter. First Horizon Advisors Inc. raised its position in Brown & Brown by 22.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,008 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 187 shares during the last quarter. Czech National Bank raised its position in Brown & Brown by 0.5% in the 1st quarter. Czech National Bank now owns 41,562 shares of the financial services provider’s stock worth $3,638,000 after purchasing an additional 191 shares during the last quarter. Finally, Xcel Wealth Management LLC raised its position in Brown & Brown by 3.2% in the 4th quarter. Xcel Wealth Management LLC now owns 6,389 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 200 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BRO. Keefe, Bruyette & Woods boosted their price objective 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. Wells Fargo & Company boosted 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 report on Wednesday, April 24th. Citigroup boosted their price objective on shares of Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Royal Bank of Canada upped their target price on shares of Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Finally, Truist Financial upped their target price on shares of Brown & Brown from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and a consensus target price of $89.40.

Brown & Brown Trading Down 0.3 %

Shares of BRO traded down $0.30 during trading hours on Monday, reaching $89.11. The stock had a trading volume of 1,098,928 shares, compared to its average volume of 1,286,505. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 52 week low of $66.53 and a 52 week high of $93.75. The firm has a 50-day moving average of $88.01 and a 200 day moving average of $82.52. The company has a market cap of $25.42 billion, a P/E ratio of 27.42, a P/E/G ratio of 2.35 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 EPS. On average, sell-side analysts expect that Brown & Brown, Inc. will post 3.61 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Friday, May 3rd. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Insiders Place Their Bets

In other Brown & Brown news, EVP Julie Turpin sold 3,350 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $89.92, for a total transaction of $301,232.00. Following the completion of the transaction, the executive vice president now owns 23,597 shares in the company, valued at approximately $2,121,842.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 16.43% of the company’s stock.

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.