Oak Thistle LLC Has $2.50 Million Stock Holdings in Brown & Brown, Inc. $BRO

by · The Markets Daily

Oak Thistle LLC increased its position in shares of Brown & Brown, Inc. (NYSE:BRO – Free Report) by 330.4% during the 3rd quarter, Holdings Channel reports. The fund owned 26,633 shares of the financial services provider’s stock after buying an additional 20,445 shares during the quarter. Oak Thistle LLC’s holdings in Brown & Brown were worth $2,498,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BRO. Access Investment Management LLC acquired a new position in shares of Brown & Brown in the 2nd quarter valued at $1,109,000. Invesco Ltd. raised its stake in Brown & Brown by 1.1% during the 2nd quarter. Invesco Ltd. now owns 4,166,370 shares of the financial services provider’s stock worth $461,925,000 after buying an additional 46,235 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Brown & Brown by 30.6% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 760,893 shares of the financial services provider’s stock worth $84,360,000 after acquiring an additional 178,082 shares in the last quarter. Caitlin John LLC acquired a new position in Brown & Brown in the second quarter valued at about $1,432,000. Finally, AMF Tjanstepension AB acquired a new position in Brown & Brown in the second quarter valued at about $6,798,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Citigroup lowered Brown & Brown from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Wolfe Research began coverage on shares of Brown & Brown in a report on Thursday, November 20th. They set a “peer perform” rating on the stock. Wall Street Zen raised shares of Brown & Brown from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Morgan Stanley reduced their price target on shares of Brown & Brown from $95.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, November 17th. Finally, Bank of America restated a “neutral” rating and set a $97.00 price objective (down from $135.00) on shares of Brown & Brown in a report on Monday, November 3rd. Five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $101.71.

Check Out Our Latest Analysis on Brown & Brown

Brown & Brown Trading Down 1.6%

NYSE:BRO opened at $81.00 on Wednesday. The company has a market cap of $27.65 billion, a P/E ratio of 24.25, a price-to-earnings-growth ratio of 1.93 and a beta of 0.82. Brown & Brown, Inc. has a twelve month low of $76.17 and a twelve month high of $125.68. The business has a 50 day moving average price of $82.91 and a two-hundred day moving average price of $94.01. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.62.

Brown & Brown (NYSE:BRO – Get Free Report) last announced its quarterly earnings data on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The firm’s revenue for the quarter was up 35.4% on a year-over-year basis. As a group, analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, November 5th were paid a dividend of $0.165 per share. The ex-dividend date was Wednesday, November 5th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s dividend payout ratio (DPR) is currently 19.76%.

Brown & Brown Profile

(Free Report)

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.

Further Reading

Want to see what other hedge funds are holding BRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brown & Brown, Inc. (NYSE:BRO – Free Report).