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

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

Several other large investors have also bought and sold shares of BRO. Oregon Public Employees Retirement Fund lifted its position in Brown & Brown by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock worth $1,819,000 after buying an additional 100 shares during the last quarter. Trust Point Inc. raised its holdings in Brown & Brown by 4.3% in the third 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. Creative Planning grew its stake in shares of Brown & Brown by 0.4% in the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock worth $3,097,000 after acquiring an additional 112 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Brown & Brown by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 25,633 shares of the financial services provider’s stock worth $2,243,000 after acquiring an additional 125 shares during the last quarter. Finally, Anchor Investment Management LLC grew its stake in shares of Brown & Brown by 4.0% in the second quarter. Anchor Investment Management LLC now owns 3,286 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 125 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BRO has been the topic of several recent analyst reports. UBS Group increased their price objective on Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods raised their price objective on Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Bank of America lifted their target price on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company lifted their target price on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Barclays assumed coverage on Brown & Brown in a 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 issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $105.67.

Brown & Brown Stock Performance

Shares of BRO traded up $0.26 during midday trading on Thursday, reaching $106.28. 143,124 shares of the stock were exchanged, compared to its average volume of 1,314,839. The business’s 50-day moving average price is $103.91 and its 200 day moving average price is $94.93. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35. Brown & Brown, Inc. has a twelve month low of $67.30 and a twelve month high of $107.67. The company has a market capitalization of $30.32 billion, a price-to-earnings ratio of 32.62, a PEG 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, topping analysts’ consensus estimates of $0.88 by $0.05. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company posted $0.68 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. On average, sell-side analysts expect that Brown & Brown, Inc. will post 3.69 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.56%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s payout ratio is currently 16.00%.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown 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 sale, the chief financial officer now owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Hyatt J. Brown sold 134,640 shares of the business’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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown 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 transaction, the chief financial officer now owns 88,445 shares of the company’s stock, valued at $8,872,802.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.02% of the stock is owned by corporate insiders.

Brown & Brown Profile

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.