Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by JSF Financial LLC

JSF Financial LLC boosted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 3.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,526 shares of the financial services provider’s stock after purchasing an additional 398 shares during the quarter. JSF Financial LLC’s holdings in Brown & Brown were worth $1,074,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mogy Joel R Investment Counsel Inc. boosted its position in Brown & Brown by 324.3% during the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock valued at $1,967,000 after purchasing an additional 14,740 shares during the period. Sanctuary Advisors LLC raised its stake in Brown & Brown by 4.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock valued at $18,104,000 after acquiring an additional 6,805 shares in the last quarter. Quantbot Technologies LP bought a new stake in Brown & Brown during the 3rd quarter valued at $9,832,000. Charles Schwab Investment Management Inc. raised its stake in Brown & Brown by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after acquiring an additional 17,934 shares in the last quarter. Finally, Peak Financial Advisors LLC bought a new stake in Brown & Brown during the 4th quarter valued at $3,037,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $108.90 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $31.14 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 2.84 and a beta of 0.86. The stock’s fifty day simple moving average is $104.60 and its 200 day simple moving average is $104.82. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $114.15.

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

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. Brown & Brown’s dividend payout ratio is 17.34%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BRO. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Keefe, Bruyette & Woods cut their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Bank of America lifted their target price on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Barclays boosted their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Finally, Royal Bank of Canada boosted their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. One 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’s stock. Based on data from MarketBeat, Brown & Brown presently has an average rating of “Hold” and a consensus target price of $113.17.

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.