Aviva PLC Lowers Holdings in Brown & Brown, Inc. (NYSE:BRO)

Aviva PLC trimmed its holdings in Brown & Brown, Inc. (NYSE:BRO) by 3.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 76,260 shares of the financial services provider’s stock after selling 2,407 shares during the period. Aviva PLC’s holdings in Brown & Brown were worth $4,052,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BRO. Rockefeller Capital Management L.P. grew its position in Brown & Brown by 363.6% in the second quarter. Rockefeller Capital Management L.P. now owns 510 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 400 shares during the period. SkyView Investment Advisors LLC boosted its position in shares of Brown & Brown by 413.3% during the first quarter. SkyView Investment Advisors LLC now owns 580 shares of the financial services provider’s stock worth $27,000 after buying an additional 467 shares during the period. FFT Wealth Management LLC purchased a new position in shares of Brown & Brown during the second quarter worth $28,000. Ameritas Investment Company LLC purchased a new position in shares of Brown & Brown during the first quarter worth $34,000. Finally, Berman Capital Advisors LLC boosted its position in shares of Brown & Brown by 205.4% during the first quarter. Berman Capital Advisors LLC now owns 849 shares of the financial services provider’s stock worth $38,000 after buying an additional 571 shares during the period. Institutional investors own 70.56% of the company’s stock.

Shares of NYSE BRO opened at $57.01 on Friday. The stock has a market cap of $16.05 billion, a P/E ratio of 28.51 and a beta of 0.70. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. Brown & Brown, Inc. has a 12-month low of $42.72 and a 12-month high of $59.46. The business’s fifty day simple moving average is $55.91 and its 200-day simple moving average is $52.22.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Sunday, July 25th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.09. Brown & Brown had a return on equity of 15.19% and a net margin of 19.95%. The business had revenue of $727.30 million for the quarter, compared to analysts’ expectations of $687.84 million. On average, equities analysts forecast that Brown & Brown, Inc. will post 2.08 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 18th. Shareholders of record on Wednesday, August 11th were paid a $0.0925 dividend. This represents a $0.37 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Tuesday, August 10th. Brown & Brown’s dividend payout ratio is presently 22.16%.

In other news, Director H Palmer Proctor, Jr. bought 2,000 shares of the business’s stock in a transaction dated Thursday, July 29th. The shares were acquired at an average price of $54.98 per share, for a total transaction of $109,960.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephen M. Boyd sold 7,050 shares of Brown & Brown stock in a transaction dated Wednesday, August 25th. The stock was sold at an average price of $58.03, for a total value of $409,111.50. The disclosure for this sale can be found here. 17.02% of the stock is owned by company insiders.

Several research firms have recently commented on BRO. Morgan Stanley raised their price target on Brown & Brown from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Monday, August 16th. Wolfe Research began coverage on Brown & Brown in a research report on Monday, August 16th. They set a “peer perform” rating and a $61.00 price target for the company. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $54.67.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance programs and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.

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

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