Jump Financial LLC Decreases Position in Brown & Brown, Inc. (NYSE:BRO)

Jump Financial LLC decreased its stake in Brown & Brown, Inc. (NYSE:BRO) by 40.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. 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 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Barclays PLC boosted its stake in Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after buying an additional 371,980 shares during the period. SkyView Investment Advisors LLC boosted its stake in shares of Brown & Brown by 2.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 8,045 shares of the financial services provider’s stock worth $833,000 after purchasing an additional 161 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Brown & Brown during the 3rd quarter valued at about $58,000. Tidal Investments LLC raised its position in Brown & Brown by 652.8% in the 3rd quarter. Tidal Investments LLC now owns 259,205 shares of the financial services provider’s stock worth $26,854,000 after purchasing an additional 224,772 shares during the period. Finally, Synovus Financial Corp lifted its stake in Brown & Brown by 1.9% in the third quarter. Synovus Financial Corp now owns 6,157 shares of the financial services provider’s stock worth $638,000 after purchasing an additional 117 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of NYSE:BRO opened at $117.17 on Monday. The firm has a 50 day moving average of $117.44 and a 200 day moving average of $110.14. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $33.50 billion, a price-to-earnings ratio of 33.86, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. Brown & Brown, Inc. has a 52 week low of $80.87 and a 52 week high of $125.68.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping 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%. On average, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s payout ratio is currently 17.34%.

Analyst Ratings Changes

BRO has been the topic of several recent analyst reports. Jefferies Financial Group increased their price target on Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a report on Friday, April 11th. Royal Bank of Canada increased their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. UBS Group boosted their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, April 9th. Wells Fargo & Company raised their price target 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. Finally, Barclays boosted their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $117.50.

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.