Legacy Financial Strategies LLC Has $4.52 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Legacy Financial Strategies LLC trimmed its position in Brown & Brown, Inc. (NYSE:BRO) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,626 shares of the financial services provider’s stock after selling 199 shares during the quarter. Brown & Brown accounts for 1.0% of Legacy Financial Strategies LLC’s holdings, making the stock its 15th biggest holding. Legacy Financial Strategies LLC’s holdings in Brown & Brown were worth $4,520,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. grew its holdings in shares of Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Brown & Brown by 1.8% during the 3rd quarter. Raymond James & Associates now owns 468,146 shares of the financial services provider’s stock worth $48,500,000 after purchasing an additional 8,484 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Brown & Brown by 166.2% during the 3rd quarter. Blue Trust Inc. now owns 1,464 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 914 shares in the last quarter. Mogy Joel R Investment Counsel Inc. acquired a new stake in shares of Brown & Brown during the 3rd quarter worth $471,000. Finally, Trust Point Inc. grew its holdings in shares of Brown & Brown by 4.3% during the 3rd quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 103 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the completion of the sale, the chief financial officer now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. 16.43% of the stock is currently owned by insiders.

Brown & Brown Trading Down 0.5 %

Shares of BRO traded down $0.54 during mid-day trading on Friday, reaching $106.39. 4,537,563 shares of the company were exchanged, compared to its average volume of 1,317,795. Brown & Brown, Inc. has a 52 week low of $66.73 and a 52 week high of $107.67. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a market capitalization of $30.35 billion, a PE ratio of 30.57, a PEG ratio of 2.49 and a beta of 0.83. The business has a 50 day simple moving average of $103.57 and a two-hundred day simple moving average of $94.43.

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

Wall Street Analysts Forecast Growth

BRO has been the topic of several analyst reports. Truist Financial increased their target price on Brown & Brown from $112.00 to $116.00 and gave the stock a “buy” rating in a report on Wednesday. Argus started coverage on Brown & Brown in a report on Tuesday, September 24th. They set a “buy” rating and a $120.00 target price on the stock. Royal Bank of Canada upped their price objective on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. UBS Group upped their price objective on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Finally, Barclays began coverage on Brown & Brown in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and an average target price 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.