Pictet North America Advisors SA Acquires 1,457 Shares of Brown & Brown, Inc. (NYSE:BRO)

Pictet North America Advisors SA increased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,185 shares of the financial services provider’s stock after buying an additional 1,457 shares during the period. Pictet North America Advisors SA’s holdings in Brown & Brown were worth $9,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Oregon Public Employees Retirement Fund increased its position in shares of Brown & Brown by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock worth $1,819,000 after acquiring an additional 100 shares in the last quarter. Trust Point Inc. increased its position in shares of Brown & Brown by 4.3% during the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 103 shares in the last quarter. Creative Planning increased its position in shares of Brown & Brown by 0.4% during the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock worth $3,097,000 after acquiring an additional 112 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Brown & Brown by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 25,633 shares of the financial services provider’s stock worth $2,243,000 after acquiring an additional 125 shares in the last quarter. Finally, Anchor Investment Management LLC increased its position in shares of Brown & Brown by 4.0% during the second quarter. Anchor Investment Management LLC now owns 3,286 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 125 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Insider Activity

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

Brown & Brown Stock Performance

Shares of BRO stock opened at $105.44 on Wednesday. The stock has a market cap of $30.08 billion, a P/E ratio of 30.30, a P/E/G ratio of 2.50 and a beta of 0.83. 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 company has a fifty day moving average price of $103.81 and a two-hundred day moving average price of $94.85. Brown & Brown, Inc. has a one year low of $66.73 and a one year high of $107.67.

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

Analysts Set New Price Targets

BRO has been the subject of several recent research reports. Jefferies Financial Group increased their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Truist Financial increased their target price on shares of Brown & Brown from $112.00 to $116.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bank of America increased their target price on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Argus initiated coverage on shares of Brown & Brown in a report on Tuesday, September 24th. They set a “buy” rating and a $120.00 target price for the company. Finally, Royal Bank of Canada increased their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and a consensus target price of $105.67.

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.