Twin Tree Management LP Buys 6,905 Shares of Brown & Brown, Inc. (BRO)

Share on StockTwits

Twin Tree Management LP grew its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 67.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,163 shares of the financial services provider’s stock after purchasing an additional 6,905 shares during the quarter. Twin Tree Management LP’s holdings in Brown & Brown were worth $476,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Advisory Services Network LLC increased its position in shares of Brown & Brown by 4.3% during the second quarter. Advisory Services Network LLC now owns 42,064 shares of the financial services provider’s stock worth $1,238,000 after acquiring an additional 1,734 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Brown & Brown by 3.2% during the second quarter. Louisiana State Employees Retirement System now owns 61,900 shares of the financial services provider’s stock worth $1,716,000 after acquiring an additional 1,900 shares during the last quarter. Wedbush Securities Inc. increased its position in shares of Brown & Brown by 17.6% during the second quarter. Wedbush Securities Inc. now owns 13,957 shares of the financial services provider’s stock worth $387,000 after acquiring an additional 2,085 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Brown & Brown by 24.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 14,800 shares of the financial services provider’s stock worth $410,000 after acquiring an additional 2,946 shares during the last quarter. Finally, SevenBridge Financial Group LLC increased its position in shares of Brown & Brown by 100.0% during the first quarter. SevenBridge Financial Group LLC now owns 6,654 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 3,327 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Shares of Brown & Brown stock opened at $29.82 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $8.28 billion, a P/E ratio of 31.06, a PEG ratio of 2.43 and a beta of 0.72. Brown & Brown, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $30.04.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, July 23rd. The financial services provider reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.02). The firm had revenue of $473.10 million during the quarter, compared to the consensus estimate of $472.74 million. Brown & Brown had a net margin of 22.25% and a return on equity of 11.75%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. equities research analysts anticipate that Brown & Brown, Inc. will post 1.22 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Wednesday, August 8th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Tuesday, August 7th. Brown & Brown’s dividend payout ratio is currently 31.25%.

BRO has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed a “hold” rating and set a $30.00 target price on shares of Brown & Brown in a research report on Wednesday, July 25th. SunTrust Banks reaffirmed a “buy” rating and set a $33.00 target price on shares of Brown & Brown in a research report on Tuesday, July 24th. Wells Fargo & Co reaffirmed a “hold” rating and set a $26.00 target price on shares of Brown & Brown in a research report on Monday, July 23rd. Goldman Sachs Group initiated coverage on Brown & Brown in a research report on Monday, June 18th. They set a “neutral” rating and a $31.00 target price on the stock. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Brown & Brown from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Monday, June 4th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Brown & Brown currently has an average rating of “Hold” and an average price target of $28.13.

About Brown & Brown

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.

Recommended Story: Technical Analysis of Stocks, How Can It Help

Want to see what other hedge funds are holding BRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brown & Brown, Inc. (NYSE:BRO).

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

Receive News & Ratings for Brown & Brown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brown & Brown and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply