AlphaCore Capital LLC Makes New $201,000 Investment in Brown & Brown, Inc. (NYSE:BRO)

AlphaCore Capital LLC purchased a new stake in Brown & Brown, Inc. (NYSE:BRO) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,940 shares of the financial services provider’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC increased its position in Brown & Brown by 330.4% during the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after buying an additional 228 shares in the last quarter. ST Germain D J Co. Inc. raised its position in shares of Brown & Brown by 298.5% in 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 purchasing an additional 200 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Brown & Brown in the 3rd quarter worth approximately $29,000. Blue Trust Inc. grew its position in Brown & Brown by 142.3% during the 2nd quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 323 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in Brown & Brown by 65.7% during the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Activity

In other news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 17.02% of the company’s stock.

Brown & Brown Trading Up 1.2 %

BRO stock opened at $112.05 on Friday. Brown & Brown, Inc. has a 52-week low of $69.13 and a 52-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 firm has a market cap of $32.04 billion, a P/E ratio of 30.53, a PEG ratio of 2.55 and a beta of 0.82. The company’s 50-day simple moving average is $105.98 and its 200-day simple moving average is $98.63.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating 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 return on equity of 17.12% and a net margin of 22.65%. Brown & Brown’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $0.71 earnings per share. As a group, equities analysts forecast that Brown & Brown, Inc. will post 3.74 EPS 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 issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.54%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, November 6th. Brown & Brown’s dividend payout ratio (DPR) is presently 16.35%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented 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 research note on Friday, July 26th. Jefferies Financial Group lifted their price target on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Barclays raised their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Truist Financial upped their target price on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One research 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. According to data from MarketBeat, Brown & Brown presently has an average rating of “Hold” and an average target price of $107.42.

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.