Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Jump Financial LLC

Jump Financial LLC lessened its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 40.5% in the 4th quarter, HoldingsChannel reports. The firm owned 11,843 shares of the financial services provider’s stock after selling 8,071 shares during the quarter. Jump Financial LLC’s holdings in Brown & Brown were worth $1,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Brown & Brown during the 4th quarter valued at approximately $28,000. Y.D. More Investments Ltd increased its holdings in Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after buying an additional 162 shares in the last quarter. R Squared Ltd acquired a new position in shares of Brown & Brown in the fourth quarter worth about $31,000. SBI Securities Co. Ltd. purchased a new stake in shares of Brown & Brown during the 4th quarter worth about $37,000. Finally, Versant Capital Management Inc grew its position in shares of Brown & Brown by 130.7% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 234 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Down 1.4 %

Shares of NYSE BRO opened at $117.17 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average of $117.44 and a 200 day moving average of $110.14. Brown & Brown, Inc. has a 12-month low of $80.87 and a 12-month high of $125.68. The stock has a market cap of $33.50 billion, a PE ratio of 33.86, a P/E/G ratio of 2.93 and a beta of 0.75.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate 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 predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.51%. Brown & Brown’s dividend payout ratio is presently 17.34%.

Wall Street Analysts Forecast Growth

BRO has been the subject of a number of analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $128.00 price target on shares of Brown & Brown in a report on Tuesday, March 25th. Keefe, Bruyette & Woods increased their target price on Brown & Brown from $97.00 to $102.00 and gave the company an “underperform” rating in a research report on Wednesday, April 9th. Bank of America lifted their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. UBS Group upped their price objective on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 9th. Finally, Wells Fargo & Company boosted their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $117.50.

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.