Jones Financial Companies Lllp Has $6.95 Million Stock Position in Brown & Brown, Inc. $BRO

Jones Financial Companies Lllp raised its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 46.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,124 shares of the financial services provider’s stock after buying an additional 23,506 shares during the quarter. Jones Financial Companies Lllp’s holdings in Brown & Brown were worth $6,951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Darwin Wealth Management LLC bought a new stake in Brown & Brown in the 2nd quarter valued at $30,000. Motco bought a new stake in shares of Brown & Brown in the second quarter valued at about $32,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Brown & Brown during the second quarter worth about $49,000. Horizon Bancorp Inc. IN bought a new position in Brown & Brown during the second quarter valued at about $50,000. Finally, Evelyn Partners Investment Management LLP acquired a new position in Brown & Brown in the 2nd quarter valued at approximately $52,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Raymond James Financial reissued an “outperform” rating on shares of Brown & Brown in a report on Monday, November 3rd. Jefferies Financial Group lowered their price target on shares of Brown & Brown from $89.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Argus upgraded shares of Brown & Brown to a “hold” rating in a research note on Tuesday, January 27th. JPMorgan Chase & Co. started coverage on shares of Brown & Brown in a research report on Thursday, December 18th. They set a “neutral” rating and a $91.00 target price on the stock. Finally, Morgan Stanley dropped their price target on shares of Brown & Brown from $85.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, January 29th. Three research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $90.64.

Brown & Brown Stock Down 1.9%

Shares of BRO opened at $72.65 on Friday. The business’s 50 day simple moving average is $78.67 and its 200-day simple moving average is $86.51. Brown & Brown, Inc. has a one year low of $70.45 and a one year high of $125.68. The company has a market capitalization of $24.80 billion, a P/E ratio of 22.70, a PEG ratio of 2.24 and a beta of 0.79. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 2.10.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The business’s revenue was up 35.7% on a year-over-year basis. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, February 4th. Brown & Brown’s dividend payout ratio is presently 20.63%.

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.