Julie Turpin Sells 3,350 Shares of Brown & Brown, Inc. (NYSE:BRO) Stock

Brown & Brown, Inc. (NYSE:BROGet Free Report) EVP Julie Turpin sold 3,350 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $89.92, for a total value of $301,232.00. Following the transaction, the executive vice president now owns 23,597 shares of the company’s stock, valued at approximately $2,121,842.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Brown & Brown Stock Performance

Shares of BRO stock opened at $90.28 on Friday. The business’s fifty day simple moving average is $85.66 and its 200-day simple moving average is $80.66. The company has a market cap of $25.75 billion, a PE ratio of 27.78, a PEG ratio of 2.35 and a beta of 0.82. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 12-month low of $63.02 and a 12-month high of $91.70.

Brown & Brown (NYSE:BROGet Free Report) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.07. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm earned $0.84 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. Analysts expect that Brown & Brown, Inc. will post 3.61 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Friday, May 3rd. Brown & Brown’s payout ratio is 16.00%.

Wall Street Analysts Forecast Growth

BRO has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on Brown & Brown from $80.00 to $82.00 and gave the company an “underperform” rating in a research report on Friday, May 3rd. Royal Bank of Canada boosted their target price on Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Wells Fargo & Company boosted their target price on Brown & Brown from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 24th. Raymond James boosted their target price on Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Finally, Bank of America upgraded Brown & Brown from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $91.00 to $101.00 in a research report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $89.40.

Check Out Our Latest Analysis on BRO

Hedge Funds Weigh In On Brown & Brown

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Brown & Brown by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 28,355,305 shares of the financial services provider’s stock valued at $2,482,223,000 after acquiring an additional 203,105 shares during the period. Principal Financial Group Inc. grew its position in Brown & Brown by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 12,718,155 shares of the financial services provider’s stock worth $1,113,347,000 after purchasing an additional 392,250 shares during the period. Allspring Global Investments Holdings LLC grew its position in Brown & Brown by 0.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,236,392 shares of the financial services provider’s stock worth $372,360,000 after purchasing an additional 29,514 shares during the period. Norges Bank acquired a new stake in Brown & Brown during the 4th quarter worth about $217,663,000. Finally, Northern Trust Corp grew its position in Brown & Brown by 6.1% during the 3rd quarter. Northern Trust Corp now owns 2,285,511 shares of the financial services provider’s stock worth $159,620,000 after purchasing an additional 130,647 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

About Brown & Brown

(Get Free Report)

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.

Further Reading

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