Pictet North America Advisors SA Has $9.34 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

Pictet North America Advisors SA grew its position in Brown & Brown, Inc. (NYSE:BRO) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,185 shares of the financial services provider’s stock after buying an additional 1,457 shares during the quarter. Pictet North America Advisors SA’s holdings in Brown & Brown were worth $9,343,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC raised its position in shares of Brown & Brown by 330.4% in the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after buying an additional 228 shares in the last quarter. ST Germain D J Co. Inc. raised its position in shares of Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Brown & Brown in the 1st quarter valued at approximately $32,000. Blue Trust Inc. raised its position in shares of Brown & Brown by 142.3% in the 2nd quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock valued at $48,000 after buying an additional 323 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Brown & Brown by 65.7% during the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 211 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Trading Down 0.6 %

BRO opened at $105.44 on Wednesday. Brown & Brown, Inc. has a fifty-two week low of $66.73 and a fifty-two week high of $107.67. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a market capitalization of $30.08 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.50 and a beta of 0.83. The company’s 50 day moving average price is $103.81 and its two-hundred day moving average price is $94.85.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the firm posted $0.68 EPS. The company’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, research analysts predict that Brown & Brown, Inc. will post 3.69 earnings per share for the current year.

Insider Activity

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO R. Andrew Watts sold 2,500 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the completion of the sale, the chief financial officer now directly owns 88,445 shares in the company, valued at approximately $8,872,802.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BRO. Bank of America lifted their price target on shares of Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Barclays began coverage on shares of Brown & Brown in a report on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 price target on the stock. Truist Financial lifted their price target on shares of Brown & Brown from $112.00 to $116.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. UBS Group lifted their price target on shares of Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and an average price target of $105.67.

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.