JSF Financial LLC Grows Position in Brown & Brown, Inc. $BRO

JSF Financial LLC boosted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,940 shares of the financial services provider’s stock after purchasing an additional 545 shares during the period. JSF Financial LLC’s holdings in Brown & Brown were worth $1,213,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BRO. Bares Capital Management Inc. purchased a new stake in Brown & Brown in the 1st quarter worth approximately $26,000. Optimum Investment Advisors bought a new position in shares of Brown & Brown in the first quarter worth approximately $31,000. SouthState Corp boosted its position in shares of Brown & Brown by 188.6% in the first quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 166 shares during the period. ST Germain D J Co. Inc. boosted its position in shares of Brown & Brown by 298.5% in the second quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 200 shares during the period. Finally, Bruce G. Allen Investments LLC boosted its position in shares of Brown & Brown by 1,129.6% in the second quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 305 shares during the period. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 1.7%

Shares of BRO opened at $95.03 on Friday. The stock has a market capitalization of $31.35 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 2.15 and a beta of 0.79. Brown & Brown, Inc. has a 1 year low of $89.99 and a 1 year high of $125.68. The business’s 50 day simple moving average is $94.21 and its 200-day simple moving average is $105.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 6.72 and a quick ratio of 6.72.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the business posted $0.93 earnings per share. Brown & Brown’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities analysts expect that Brown & Brown, Inc. will post 4.18 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, August 20th. Investors of record on Wednesday, August 13th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, August 13th. Brown & Brown’s dividend payout ratio (DPR) is currently 17.29%.

Analyst Ratings Changes

A number of research firms recently weighed in on BRO. Morgan Stanley lowered their target price on shares of Brown & Brown from $109.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Monday, August 18th. Wall Street Zen raised Brown & Brown from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Bank of America upgraded Brown & Brown from a “neutral” rating to a “buy” rating and increased their target price for the stock from $126.00 to $130.00 in a research report on Wednesday, July 30th. Barclays decreased their target price on Brown & Brown from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 29th. Finally, BMO Capital Markets dropped their price target on Brown & Brown from $122.00 to $106.00 and set an “outperform” rating for the company in a research note on Wednesday, July 30th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and a consensus target price of $112.08.

Insider Transactions at Brown & Brown

In other Brown & Brown news, Director Paul J. Krump purchased 2,678 shares of the stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $93.31 per share, with a total value of $249,884.18. Following the transaction, the director owned 5,353 shares of the company’s stock, valued at approximately $499,488.43. This trade represents a 100.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bronislaw Edmund Masojada acquired 1,000 shares of Brown & Brown stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average cost of $91.44 per share, with a total value of $91,440.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $457,200. This represents a 25.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 17.02% of the stock is owned by corporate insiders.

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.