Jackson Wealth Management LLC Acquires Shares of 30,176 Brown & Brown, Inc. (NYSE:BRO)

Jackson Wealth Management LLC purchased a new position in Brown & Brown, Inc. (NYSE:BRO) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 30,176 shares of the financial services provider’s stock, valued at approximately $3,126,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ST Germain D J Co. Inc. increased its holdings in Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Crewe Advisors LLC grew its holdings in shares of Brown & Brown by 330.4% during the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 228 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Brown & Brown during the first quarter valued at approximately $32,000. Larson Financial Group LLC grew its holdings in shares of Brown & Brown by 65.7% during the second quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 211 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Brown & Brown by 142.3% during the second quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 323 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BRO has been the subject of several recent research reports. Wells Fargo & Company upped their target price on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Jefferies Financial Group upped their target price on Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Raymond James upped their target price on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Bank of America upped their target price on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $105.67.

Brown & Brown Stock Up 0.2 %

Brown & Brown stock traded up $0.26 during mid-day trading on Thursday, hitting $106.28. 143,124 shares of the company’s stock were exchanged, compared to its average volume of 1,314,839. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 1-year low of $67.30 and a 1-year high of $107.67. The stock has a 50 day moving average of $103.91 and a two-hundred day moving average of $94.93. The stock has a market cap of $30.32 billion, a P/E ratio of 32.62, a P/E/G ratio of 2.50 and a beta of 0.83.

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

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.56%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Insiders Place Their Bets

In other Brown & Brown 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 completion of the transaction, the chief financial officer now owns 88,445 shares in the company, valued at $8,872,802.40. This trade 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 is available at this link. In other Brown & Brown 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 completion of the transaction, the chief financial officer now owns 88,445 shares in the company, valued at $8,872,802.40. This trade 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 is available at this link. Also, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s 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. Corporate insiders own 17.02% of the company’s stock.

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.