Brown & Brown, Inc. $BRO Shares Acquired by Jackson Hill Advisors LLC

Jackson Hill Advisors LLC increased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 161.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 170,000 shares of the financial services provider’s stock after buying an additional 105,000 shares during the period. Brown & Brown comprises approximately 6.3% of Jackson Hill Advisors LLC’s holdings, making the stock its 9th biggest position. Jackson Hill Advisors LLC’s holdings in Brown & Brown were worth $13,549,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BRO. Capital World Investors boosted its stake in Brown & Brown by 81.1% during the 3rd quarter. Capital World Investors now owns 17,479,389 shares of the financial services provider’s stock valued at $1,639,392,000 after purchasing an additional 7,827,992 shares during the period. Norges Bank acquired a new position in Brown & Brown during the 4th quarter valued at about $516,837,000. Vanguard Group Inc. boosted its stake in Brown & Brown by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 37,330,892 shares of the financial services provider’s stock valued at $3,501,264,000 after purchasing an additional 1,705,570 shares during the period. JPMorgan Chase & Co. boosted its stake in Brown & Brown by 170.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,931,839 shares of the financial services provider’s stock valued at $181,187,000 after purchasing an additional 1,217,071 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Brown & Brown by 1,679.0% during the 3rd quarter. AQR Capital Management LLC now owns 1,204,318 shares of the financial services provider’s stock valued at $112,953,000 after purchasing an additional 1,136,623 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was acquired at an average cost of $57.10 per share, with a total value of $114,200.00. Following the completion of the purchase, the director directly owned 47,621 shares in the company, valued at approximately $2,719,159.10. This trade represents a 4.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 13.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citigroup assumed coverage on shares of Brown & Brown in a research note on Thursday, May 21st. They set a “market outperform” rating for the company. Barclays reduced their target price on shares of Brown & Brown from $80.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. JPMorgan Chase & Co. reduced their target price on shares of Brown & Brown from $91.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Morgan Stanley reduced their target price on shares of Brown & Brown from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, May 21st. Finally, Mizuho reduced their target price on shares of Brown & Brown from $85.00 to $84.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Five analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $79.44.

Brown & Brown Trading Down 2.7%

Shares of NYSE:BRO opened at $55.04 on Thursday. The company has a 50 day moving average of $61.93 and a 200-day moving average of $70.82. The firm has a market cap of $18.65 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.61 and a beta of 0.63. Brown & Brown, Inc. has a twelve month low of $53.81 and a twelve month high of $112.84. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The business’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 EPS. As a group, analysts anticipate that Brown & Brown, Inc. will post 4.51 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 11th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, May 11th. Brown & Brown’s dividend payout ratio is currently 21.22%.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.