SRS Capital Advisors Inc. Invests $221,000 in Brown & Brown, Inc. (BRO) Stock

SRS Capital Advisors Inc. acquired a new position in Brown & Brown, Inc. (NYSE:BRO) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 7,485 shares of the financial services provider’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI bought a new position in Brown & Brown in the 2nd quarter valued at $4,987,000. Tandem Investment Advisors Inc. boosted its holdings in Brown & Brown by 4.3% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 485,140 shares of the financial services provider’s stock valued at $14,346,000 after purchasing an additional 19,819 shares during the period. Select Equity Group L.P. boosted its holdings in Brown & Brown by 23.8% in the 2nd quarter. Select Equity Group L.P. now owns 5,591,244 shares of the financial services provider’s stock valued at $155,045,000 after purchasing an additional 1,075,295 shares during the period. Keybank National Association OH boosted its holdings in Brown & Brown by 8.1% in the 2nd quarter. Keybank National Association OH now owns 76,663 shares of the financial services provider’s stock valued at $2,126,000 after purchasing an additional 5,733 shares during the period. Finally, Royal London Asset Management Ltd. bought a new position in Brown & Brown in the 2nd quarter valued at $2,494,000. 71.59% of the stock is owned by institutional investors.

Brown & Brown stock opened at $29.29 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.98 and a current ratio of 0.96. The firm has a market cap of $8.11 billion, a PE ratio of 30.51, a P/E/G ratio of 2.34 and a beta of 0.73. Brown & Brown, Inc. has a fifty-two week low of $24.34 and a fifty-two week high of $31.55.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 22nd. The financial services provider reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. The firm had revenue of $530.90 million for the quarter, compared to analysts’ expectations of $508.82 million. Brown & Brown had a net margin of 23.15% and a return on equity of 12.36%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.27 EPS. As a group, equities analysts forecast that Brown & Brown, Inc. will post 1.24 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 7th. Stockholders of record on Friday, October 26th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, October 25th. This represents a $0.32 annualized dividend and a dividend yield of 1.09%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.08. Brown & Brown’s dividend payout ratio (DPR) is 33.33%.

BRO has been the subject of several analyst reports. Citigroup set a $27.00 price target on shares of Brown & Brown and gave the company a “sell” rating in a report on Wednesday, September 19th. SunTrust Banks reissued a “buy” rating and issued a $33.00 price target on shares of Brown & Brown in a report on Tuesday, July 24th. Wells Fargo & Co reissued a “hold” rating and issued a $26.00 price target on shares of Brown & Brown in a report on Monday, July 23rd. Royal Bank of Canada reissued a “hold” rating and issued a $30.00 price target on shares of Brown & Brown in a report on Wednesday, July 25th. Finally, Zacks Investment Research raised shares of Brown & Brown from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Tuesday, September 25th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $29.18.

In other news, EVP Anthony T. Strianese sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $28.66, for a total transaction of $57,320.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 17.12% of the company’s stock.

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Brown & Brown Company Profile

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.

Featured Story: Balance Sheet

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Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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