Jackson Creek Investment Advisors LLC Sells 1,579 Shares of Brown & Brown, Inc. (NYSE:BRO)

Jackson Creek Investment Advisors LLC decreased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 20.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,171 shares of the financial services provider’s stock after selling 1,579 shares during the period. Jackson Creek Investment Advisors LLC’s holdings in Brown & Brown were worth $552,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crewe Advisors LLC increased its holdings in Brown & Brown by 330.4% during the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 228 shares during the period. Headlands Technologies LLC purchased a new position in shares of Brown & Brown during the first quarter valued at $32,000. Alaska Permanent Fund Corp bought a new stake in shares of Brown & Brown in the first quarter valued at about $36,000. First PREMIER Bank purchased a new stake in Brown & Brown in the first quarter worth about $40,000. Finally, Intelligent Financial Strategies purchased a new stake in Brown & Brown in the first quarter worth about $45,000. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Trading Up 0.8 %

Shares of NYSE:BRO opened at $105.84 on Thursday. Brown & Brown, Inc. has a 1 year low of $66.73 and a 1 year high of $106.02. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a market capitalization of $30.19 billion, a P/E ratio of 32.57, a P/E/G ratio of 2.44 and a beta of 0.83. The business’s 50-day moving average is $97.75 and its 200 day moving average is $90.28.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.05. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, research analysts predict that Brown & Brown, Inc. will post 3.68 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 14th. Shareholders of record on Wednesday, August 7th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.49%. The ex-dividend date was Wednesday, August 7th. Brown & Brown’s dividend payout ratio is currently 16.00%.

Analyst Ratings Changes

BRO has been the subject of several research reports. Wells Fargo & Company raised shares of Brown & Brown from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $94.00 to $112.00 in a research report on Monday, August 12th. StockNews.com upgraded Brown & Brown from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Citigroup lifted their price target on Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 31st. Raymond James boosted their price target on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods raised their price objective on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $99.20.

Insider Buying and Selling at Brown & Brown

In related news, EVP Julie Turpin sold 3,350 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $89.92, for a total value of $301,232.00. Following the completion of the transaction, the executive vice president now owns 23,597 shares of the company’s stock, valued at approximately $2,121,842.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Julie Turpin sold 3,350 shares of Brown & Brown stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $89.92, for a total value of $301,232.00. Following the sale, the executive vice president now directly owns 23,597 shares in the company, valued at approximately $2,121,842.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,490 shares of company stock valued at $14,623,258. Corporate insiders own 17.02% of the company’s stock.

Brown & Brown Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.