Brown & Brown, Inc. $BRO Stock Holdings Decreased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. reduced its position in Brown & Brown, Inc. (NYSE:BRO) by 65.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,446 shares of the financial services provider’s stock after selling 14,062 shares during the period. Jefferies Financial Group Inc.’s holdings in Brown & Brown were worth $593,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Capital World Investors raised 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. Principal Financial Group Inc. raised its stake in Brown & Brown by 13.4% during the 3rd quarter. Principal Financial Group Inc. now owns 15,416,190 shares of the financial services provider’s stock valued at $1,445,888,000 after purchasing an additional 1,821,229 shares during the period. Vanguard Group Inc. raised 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. raised 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 raised 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 hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BRO shares. Truist Financial reduced their price objective on Brown & Brown from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Morgan Stanley reduced their price objective on 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. Barclays reduced their price objective on 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. decreased their price target on shares of Brown & Brown from $91.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Finally, Bank of America decreased their price target on shares of Brown & Brown from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Five investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $79.44.

Insiders Place Their Bets

In other Brown & Brown news, Director H Palmer Proctor, Jr. acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were purchased at an average price of $57.10 per share, with a total value of $114,200.00. Following the completion of the transaction, the director owned 47,621 shares in the company, valued at $2,719,159.10. The trade was a 4.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 13.13% of the company’s stock.

Brown & Brown Trading Down 0.9%

Brown & Brown stock opened at $56.32 on Friday. The company’s fifty day simple moving average is $62.56 and its 200-day simple moving average is $71.37. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 12 month low of $53.81 and a 12 month high of $113.83. The stock has a market cap of $19.09 billion, a P/E ratio of 18.11, a P/E/G ratio of 2.59 and a beta of 0.66.

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

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, May 11th. Brown & Brown’s dividend payout ratio is presently 21.22%.

About Brown & Brown

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.