Thurston Springer Miller Herd & Titak Inc. Has $2.10 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,279 shares of the financial services provider’s stock after buying an additional 834 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Brown & Brown were worth $2,101,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC increased its stake in Brown & Brown by 330.4% in the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 228 shares during the last quarter. Headlands Technologies LLC bought a new position in Brown & Brown in the first quarter valued at about $32,000. Alaska Permanent Fund Corp acquired a new position in Brown & Brown during the first quarter worth about $36,000. First PREMIER Bank acquired a new stake in shares of Brown & Brown in the 1st quarter valued at approximately $40,000. Finally, Larson Financial Group LLC increased its position in Brown & Brown by 65.7% during the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 211 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BRO. Raymond James upped their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company upped their price objective on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com upgraded Brown & Brown from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Truist Financial increased their target price on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group boosted their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

Insider Buying and Selling at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown 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 legal filing with the SEC, which is available at the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was 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 of the company’s stock, 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. 17.02% of the stock is currently owned by corporate insiders.

Brown & Brown Trading Up 1.0 %

BRO stock opened at $104.75 on Monday. Brown & Brown, Inc. has a one year low of $66.73 and a one year high of $106.67. The company has a market capitalization of $29.88 billion, a PE ratio of 32.23, a price-to-earnings-growth ratio of 2.45 and a beta of 0.83. The company’s 50 day moving average price is $102.88 and its two-hundred day moving average price is $93.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35.

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

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, August 7th. Brown & Brown’s payout ratio is 16.00%.

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.