Brown & Brown (NYSE:BRO) Chairman Hyatt J. Brown sold 140,000 shares of Brown & Brown stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $52.85, for a total value of $7,399,000.00. Following the sale, the chairman now directly owns 27,957 shares in the company, valued at $1,477,527.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
BRO traded down $0.37 during midday trading on Friday, reaching $25.09. 1,261,662 shares of the company’s stock were exchanged, compared to its average volume of 1,240,140. Brown & Brown has a one year low of $20.66 and a one year high of $26.93. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. The stock has a market cap of $6,914.83, a price-to-earnings ratio of 26.14, a P/E/G ratio of 2.03 and a beta of 0.69.
Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 22nd. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. Brown & Brown had a net margin of 21.24% and a return on equity of 11.19%. The company had revenue of $474.30 million during the quarter, compared to analysts’ expectations of $449.89 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. Brown & Brown’s quarterly revenue was up 9.4% compared to the same quarter last year. equities research analysts expect that Brown & Brown will post 1.24 EPS for the current fiscal year.
BRO has been the topic of a number of recent research reports. Zacks Investment Research raised Brown & Brown from a “sell” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Tuesday, April 3rd. Langen Mcalenn restated a “buy” rating on shares of Brown & Brown in a research note on Tuesday, January 16th. Royal Bank of Canada restated a “hold” rating and set a $26.50 price target on shares of Brown & Brown in a research note on Wednesday, January 24th. Wells Fargo restated a “hold” rating and set a $26.00 price target on shares of Brown & Brown in a research note on Monday, January 22nd. Finally, ValuEngine cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Thursday, March 29th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Brown & Brown has a consensus rating of “Hold” and a consensus price target of $24.94.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Brown & Brown by 1.5% in the fourth quarter. BlackRock Inc. now owns 9,778,068 shares of the financial services provider’s stock valued at $503,179,000 after acquiring an additional 146,709 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Brown & Brown by 2.3% in the third quarter. Wells Fargo & Company MN now owns 5,804,446 shares of the financial services provider’s stock valued at $279,717,000 after acquiring an additional 130,832 shares during the last quarter. Clarkston Capital Partners LLC raised its stake in shares of Brown & Brown by 1.7% in the fourth quarter. Clarkston Capital Partners LLC now owns 2,593,654 shares of the financial services provider’s stock valued at $133,469,000 after acquiring an additional 44,485 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Brown & Brown by 28.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,855,300 shares of the financial services provider’s stock valued at $95,474,000 after acquiring an additional 414,200 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Brown & Brown by 4.2% in the fourth quarter. Schroder Investment Management Group now owns 1,573,967 shares of the financial services provider’s stock valued at $80,996,000 after acquiring an additional 64,141 shares during the last quarter. Institutional investors own 72.25% of the company’s stock.
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About Brown & Brown
Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.
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