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

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mogy Joel R Investment Counsel Inc. boosted its position in shares of Brown & Brown by 324.3% during the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock worth $1,967,000 after purchasing an additional 14,740 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Brown & Brown by 4.4% during the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock worth $18,104,000 after acquiring an additional 6,805 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Brown & Brown during the third quarter worth $9,832,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Brown & Brown by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock worth $136,302,000 after acquiring an additional 17,934 shares during the period. Finally, Peak Financial Advisors LLC acquired a new stake in shares of Brown & Brown during the fourth quarter worth $3,037,000. 71.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BRO has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. 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. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Wells Fargo & Company lifted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group lifted their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Stock Up 0.4 %

Brown & Brown stock opened at $105.99 on Wednesday. The firm has a market capitalization of $30.31 billion, a PE ratio of 30.63, a P/E/G ratio of 2.75 and a beta of 0.86. The company’s 50-day moving average is $104.98 and its 200-day moving average is $104.50. Brown & Brown, Inc. has a fifty-two week low of $77.12 and a fifty-two week high of $114.15. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.73.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Sell-side analysts anticipate that Brown & Brown, Inc. will post 4.15 earnings per share for the current year.

Brown & Brown Dividend Announcement

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

Brown & Brown Company 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.