Brown & Brown, Inc. $BRO Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lowered its stake in Brown & Brown, Inc. (NYSE:BRO) by 65.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,446 shares of the financial services provider’s stock after selling 14,062 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Brown & Brown were worth $593,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Advisory Alpha LLC lifted its holdings in Brown & Brown by 23.1% in the fourth quarter. Advisory Alpha LLC now owns 8,056 shares of the financial services provider’s stock worth $642,000 after purchasing an additional 1,511 shares during the period. Markel Group Inc. acquired a new stake in shares of Brown & Brown in the 4th quarter worth approximately $877,000. Axxcess Wealth Management LLC acquired a new stake in shares of Brown & Brown in the 4th quarter worth approximately $536,000. Leonteq Securities AG acquired a new stake in shares of Brown & Brown in the 4th quarter worth approximately $574,000. Finally, ABN Amro Investment Solutions lifted its stake in shares of Brown & Brown by 6.4% in the 4th quarter. ABN Amro Investment Solutions now owns 461,567 shares of the financial services provider’s stock worth $36,787,000 after acquiring an additional 27,870 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Down 0.9%

NYSE BRO opened at $56.32 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64. The company’s 50 day simple moving average is $62.56 and its 200 day simple moving average is $71.37. Brown & Brown, Inc. has a 12 month low of $53.81 and a 12 month high of $113.83. The company has a market capitalization of $19.09 billion, a P/E ratio of 18.11, a PEG ratio of 2.59 and a beta of 0.66.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The company’s quarterly revenue was up 35.4% compared to the same quarter last year. Equities research analysts expect that Brown & Brown, Inc. will post 4.51 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were given a $0.165 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. Brown & Brown’s dividend payout ratio (DPR) is 21.22%.

Insider Buying and Selling at Brown & Brown

In related news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was acquired at an average price of $57.10 per share, for a total transaction of $114,200.00. Following the transaction, the director directly owned 47,621 shares of the company’s stock, valued at $2,719,159.10. This trade represents a 4.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 13.13% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Bank of America reduced their price target on shares of Brown & Brown from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods decreased their price target on Brown & Brown from $74.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Citizens Jmp started coverage on Brown & Brown in a research note on Thursday, May 21st. They set a “market outperform” rating and a $70.00 price target for the company. Truist Financial decreased their price target on Brown & Brown from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, Royal Bank Of Canada lowered their target price on Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $79.44.

About Brown & Brown

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.