Massmutual Trust Co. FSB ADV Buys 201 Shares of Brown & Brown, Inc. (NYSE:BRO)

Massmutual Trust Co. FSB ADV raised its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 28.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 916 shares of the financial services provider’s stock after buying an additional 201 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Brown & Brown were worth $82,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted 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 worth $2,482,223,000 after acquiring an additional 203,105 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of 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 acquiring an additional 392,250 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of 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 valued at $372,360,000 after acquiring an additional 29,514 shares in the last quarter. Norges Bank acquired a new position in Brown & Brown in the fourth quarter worth about $217,663,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Brown & Brown by 76.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,000,227 shares of the financial services provider’s stock valued at $142,236,000 after purchasing an additional 865,082 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wells Fargo & Company upped their price target on Brown & Brown from $88.00 to $94.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods upped their price objective on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Raymond James increased their price target on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada boosted their price objective on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Bank of America raised Brown & Brown from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $91.00 to $101.00 in a report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and a consensus target price of $97.40.

Insider Activity

In related news, EVP Julie Turpin sold 3,350 shares of Brown & Brown stock in a transaction on Friday, June 7th. The shares were sold at an average price of $89.92, for a total transaction of $301,232.00. Following the transaction, the executive vice president now owns 23,597 shares in the company, valued at approximately $2,121,842.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 17.02% of the stock is owned by corporate insiders.

Brown & Brown Stock Up 1.0 %

NYSE BRO traded up $0.99 during mid-day trading on Tuesday, hitting $99.37. The company’s stock had a trading volume of 1,513,407 shares, compared to its average volume of 1,273,350. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56. The company’s 50 day simple moving average is $92.29 and its 200 day simple moving average is $86.54. Brown & Brown, Inc. has a twelve month low of $66.73 and a twelve month high of $103.16. The firm has a market capitalization of $28.35 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 2.51 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.88 by $0.05. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.14 billion. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 earnings per share. Analysts anticipate that Brown & Brown, Inc. will post 3.67 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Wednesday, August 7th. Brown & Brown’s payout ratio is currently 16.00%.

About Brown & Brown

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.