Brown & Brown, Inc. $BRO Shares Sold by Jain Global LLC

Jain Global LLC decreased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 15.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 843,015 shares of the financial services provider’s stock after selling 154,786 shares during the quarter. Brown & Brown makes up about 0.4% of Jain Global LLC’s investment portfolio, making the stock its 6th largest position. Jain Global LLC owned approximately 0.25% of Brown & Brown worth $79,066,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BRO. Western Wealth Management LLC increased its stake in shares of Brown & Brown by 6.0% in the second quarter. Western Wealth Management LLC now owns 1,902 shares of the financial services provider’s stock valued at $211,000 after buying an additional 108 shares in the last quarter. ICONIQ Capital LLC increased its position in Brown & Brown by 5.4% in the 2nd quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 109 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in shares of Brown & Brown by 2.2% in the second quarter. Kingsview Wealth Management LLC now owns 5,267 shares of the financial services provider’s stock worth $584,000 after acquiring an additional 114 shares during the last quarter. Zacks Investment Management raised its stake in shares of Brown & Brown by 0.7% in the third quarter. Zacks Investment Management now owns 17,854 shares of the financial services provider’s stock worth $1,675,000 after acquiring an additional 125 shares during the last quarter. Finally, Freedom Day Solutions LLC lifted its position in shares of Brown & Brown by 0.7% during the third quarter. Freedom Day Solutions LLC now owns 18,632 shares of the financial services provider’s stock worth $1,747,000 after purchasing an additional 129 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.9%

NYSE BRO opened at $68.29 on Monday. Brown & Brown, Inc. has a 12 month low of $65.68 and a 12 month high of $125.68. The stock has a 50-day simple moving average of $73.46 and a 200 day simple moving average of $81.57. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $23.25 billion, a PE ratio of 21.34, a P/E/G ratio of 1.83 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The company’s revenue was up 35.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 earnings per share. Research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, February 4th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.66 annualized dividend and a yield of 1.0%. Brown & Brown’s dividend payout ratio (DPR) is presently 20.63%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Bank of America dropped their price objective on shares of Brown & Brown from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, January 27th. Morgan Stanley dropped their target price on 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. Wells Fargo & Company cut their price target on Brown & Brown from $82.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Friday, February 13th. BMO Capital Markets lowered their price objective on Brown & Brown from $88.00 to $81.00 and set a “market perform” rating for the company in a research report on Thursday, January 29th. Finally, UBS Group reissued a “neutral” rating and set a $81.00 price objective (down from $90.00) on shares of Brown & Brown in a report on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Brown & Brown has an average rating of “Hold” and an average target price of $90.29.

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.