Running Oak Capital LLC Has $9.07 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Running Oak Capital LLC raised its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 14.3% during the fourth quarter, Holdings Channel reports. The firm owned 127,536 shares of the financial services provider’s stock after buying an additional 15,954 shares during the period. Brown & Brown comprises 1.8% of Running Oak Capital LLC’s holdings, making the stock its 25th biggest holding. Running Oak Capital LLC’s holdings in Brown & Brown were worth $9,069,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in Brown & Brown by 86.9% during the fourth quarter. SG Americas Securities LLC now owns 24,866 shares of the financial services provider’s stock valued at $1,768,000 after purchasing an additional 11,559 shares in the last quarter. Patton Fund Management Inc. bought a new position in shares of Brown & Brown in the fourth quarter valued at approximately $4,765,000. Whittier Trust Co. raised its stake in shares of Brown & Brown by 12.1% in the fourth quarter. Whittier Trust Co. now owns 162,226 shares of the financial services provider’s stock valued at $11,536,000 after acquiring an additional 17,479 shares during the last quarter. WCM Investment Management LLC raised its stake in shares of Brown & Brown by 13.4% in the fourth quarter. WCM Investment Management LLC now owns 107,979 shares of the financial services provider’s stock valued at $7,658,000 after acquiring an additional 12,748 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Brown & Brown by 28.7% in the third quarter. Toronto Dominion Bank now owns 277,331 shares of the financial services provider’s stock valued at $19,369,000 after acquiring an additional 61,800 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BRO shares. Jefferies Financial Group cut shares of Brown & Brown from a “buy” rating to a “hold” rating and cut their target price for the company from $85.00 to $78.00 in a research note on Tuesday, January 9th. Bank of America cut shares of Brown & Brown from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $80.00 to $86.00 in a research note on Wednesday, March 13th. The Goldman Sachs Group upgraded shares of Brown & Brown from a “neutral” rating to a “buy” rating and cut their target price for the company from $84.00 to $83.00 in a research note on Monday, January 8th. Citigroup boosted their price objective on shares of Brown & Brown from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Brown & Brown from $75.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Brown & Brown has an average rating of “Hold” and an average price target of $87.10.

Brown & Brown Trading Up 0.2 %

Shares of Brown & Brown stock traded up $0.15 on Thursday, hitting $82.85. 1,134,303 shares of the company’s stock traded hands, compared to its average volume of 1,351,959. The firm’s 50-day moving average price is $84.22 and its two-hundred day moving average price is $77.41. The stock has a market capitalization of $23.63 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 2.23 and a beta of 0.79. Brown & Brown, Inc. has a one year low of $61.71 and a one year high of $87.99. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.97.

Brown & Brown (NYSE:BRO) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.07 by $0.07. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS. On average, research analysts expect that Brown & Brown, Inc. will post 3.62 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Friday, May 3rd. Brown & Brown’s dividend payout ratio (DPR) is 16.00%.

Insider Activity

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the transaction, the chairman now owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 17.02% of the stock is owned by company insiders.

Brown & Brown Profile

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.