Jackson Wealth Management LLC Purchases 1,059 Shares of Brown & Brown, Inc. (NYSE:BRO)

Jackson Wealth Management LLC raised its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,235 shares of the financial services provider’s stock after acquiring an additional 1,059 shares during the period. Jackson Wealth Management LLC’s holdings in Brown & Brown were worth $3,187,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Studio Investment Management LLC lifted its stake in shares of Brown & Brown by 1.5% in the third quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock valued at $675,000 after buying an additional 96 shares during the period. Journey Strategic Wealth LLC raised its position in Brown & Brown by 2.3% in the fourth quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock worth $458,000 after purchasing an additional 99 shares in the last quarter. Trust Point Inc. raised its position 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. CWA Asset Management Group LLC raised its position in Brown & Brown by 3.7% in the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 103 shares in the last quarter. Finally, Creative Planning raised its position in 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 purchasing an additional 112 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BRO. Wells Fargo & Company increased their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Royal Bank of Canada raised their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Bank of America raised their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Jefferies Financial Group raised their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Price Performance

Shares of BRO stock opened at $105.99 on Wednesday. Brown & Brown, Inc. has a 52-week low of $77.12 and a 52-week high of $114.15. The stock has a market cap of $30.31 billion, a PE ratio of 30.63, a PEG ratio of 2.75 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.73 and a current ratio of 1.79. The firm’s 50 day moving average price is $104.98 and its two-hundred day moving average price is $104.50.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, analysts forecast that Brown & Brown, Inc. will post 4.15 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. Brown & Brown’s dividend payout ratio is 17.34%.

Brown & Brown Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.