Anthony T. Strianese Sells 35,000 Shares of Brown & Brown, Inc. (BRO) Stock

Brown & Brown, Inc. (NYSE:BRO) EVP Anthony T. Strianese sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $29.17, for a total value of $1,020,950.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of BRO opened at $29.46 on Friday. Brown & Brown, Inc. has a 52-week low of $24.34 and a 52-week high of $31.55. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 2.19 and a beta of 0.73. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.49.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 28th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.01). Brown & Brown had a net margin of 17.09% and a return on equity of 12.03%. The business had revenue of $508.70 million during the quarter, compared to analyst estimates of $503.52 million. During the same period in the previous year, the company earned $0.24 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. Sell-side analysts expect that Brown & Brown, Inc. will post 1.33 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 20th. Shareholders of record on Wednesday, February 6th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Tuesday, February 5th. Brown & Brown’s payout ratio is 26.02%.

Several institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue raised its position in shares of Brown & Brown by 1.9% in the 4th quarter. State of Alaska Department of Revenue now owns 24,886 shares of the financial services provider’s stock valued at $685,000 after purchasing an additional 464 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Brown & Brown by 4.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 13,547 shares of the financial services provider’s stock valued at $373,000 after purchasing an additional 585 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Brown & Brown by 3.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,518 shares of the financial services provider’s stock valued at $455,000 after purchasing an additional 626 shares in the last quarter. ETF Managers Group LLC raised its position in shares of Brown & Brown by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 5,127 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 699 shares in the last quarter. Finally, Gotham Asset Management LLC raised its position in shares of Brown & Brown by 4.4% in the 4th quarter. Gotham Asset Management LLC now owns 17,754 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 751 shares in the last quarter. 71.73% of the stock is currently owned by institutional investors.

BRO has been the topic of several recent research reports. ValuEngine raised Brown & Brown from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research raised Brown & Brown from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Monday, December 31st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $29.00.

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Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.

Further Reading: Quiet Period

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