Czech National Bank Invests in Brown & Brown, Inc.

The Czech National Bank has increased its investment in Brown & Brown, Inc. (NYSE:BRO) by 6.9% during the third quarter of the year. This information comes from the bank's latest 13F filing with the Securities and Exchange Commission (SEC). Following this increase, the Czech National Bank now holds 48,231 shares of Brown & Brown's stock, having acquired an additional 3,115 shares within the quarter. The total value of its holdings in the company stands at approximately $4,997,000 based on the most recent filing data.

In addition to the Czech National Bank, several other institutional investors have made changes to their positions in Brown & Brown. For instance, Crewe Advisors LLC significantly increased its stake by 330.4% during the second quarter, bringing its total to 297 shares valued around $27,000 after buying an additional 228 shares. Similarly, Headlands Technologies LLC established a new position in Brown & Brown in the first quarter, estimated to be worth about $32,000. Alaska Permanent Fund Corp also acquired a new stake in the company valued at around $36,000. Other notable investors include First PREMIER Bank and Intelligent Financial Strategies, which bought new stakes worth approximately $40,000 and $45,000, respectively. Currently, institutional investors own 71.01% of Brown & Brown's stock.

Insider Transactions

On another note, recent insider trading activity has also drawn attention. Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock on August 29th at an average price of $104.51, totaling approximately $14,071,226.40. This transaction was reported to the SEC and can be accessed through their website. Furthermore, CFO R. Andrew Watts sold 2,500 shares on August 8th for an average price of $100.32, amounting to $250,800. Following this sale, Watts now directly owns 88,445 shares, valued at about $8,872,802.40, marking a 0.00% change in ownership. Insiders collectively own 17.02% of the company’s stock.

Stock Performance

As of Friday, shares of Brown & Brown opened at $104.75. The company boasts a market capitalization of approximately $29.88 billion, with a price-to-earnings ratio of 32.23 and a PEG ratio of 2.45. The stock has shown stability with a beta of 0.83 and has a 52-week range from a low of $66.73 to a high of $106.67. Additionally, Brown & Brown has a debt-to-equity ratio of 0.56 and both a quick and current ratio of 2.35. The fifty-day moving average stands at $102.88, while the 200-day moving average is at $93.76.

Brown & Brown's latest earnings report, released on July 22nd, revealed an earnings per share (EPS) of $0.93, surpassing the consensus estimate of $0.88 by $0.05. The company reported revenues of $1.18 billion for the quarter, exceeding the anticipated $1.14 billion. They achieved a return on equity of 17.00% and had a net margin of 21.95%. Year-over-year, Brown & Brown experienced a revenue increase of 12.5%, up from an EPS of $0.68 during the same timeframe last year. Analysts predict that the company will report an EPS of 3.69 for the current fiscal year.

Dividend Announcements

Brown & Brown also declared a quarterly dividend recently, which was paid out on August 14th. Shareholders on record as of August 7th received a dividend of $0.13 per share. This translates to an annualized dividend of $0.52, reflecting a yield of 0.50%. The ex-dividend date was also set for August 7th, and the company's payout ratio is noted at 16.00%.

Analyst Insights

Various equity analysts have provided updates on Brown & Brown’s stock ratings. Jefferies Financial Group raised their price target from $98.00 to $104.00 while maintaining a “hold” rating. Raymond James upgraded their target from $95.00 to $110.00, rating it as “outperform.” Keefe, Bruyette & Woods increased their target from $86.00 to $92.00, recommending an “underperform” stance. Truist Financial raised their target price from $104.00 to $112.00 while suggesting a “buy” rating. Moreover, StockNews.com elevated their rating from “hold” to “buy.” Overall, one analyst rated the stock as a sell, four gave it a hold rating, while eight provided a buy rating, leading to a consensus rating of “Moderate Buy” and a target price of $105.33.

About Brown & Brown

Brown & Brown, Inc. specializes in marketing and selling various insurance products and services, not only in the United States but also in Canada, Ireland, the United Kingdom, and other international markets. The company operates through four key segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment focuses on offering property and casualty insurance, employee benefits, personal insurance products, and risk management solutions.

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