24,402 Shares in Brown & Brown, Inc. $BRO Bought by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 24,402 shares of Brown & Brown during the second quarter, valued at approximately $1.565 million. Institutional investors collectively own 71.01% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $76.80. Recent targets range from $68 to $86.
• Brown & Brown reported quarterly EPS of $1.07, slightly below expectations, while revenue reached $1.65 billion and increased 30.4% year over year. The company also paid a quarterly dividend of $0.165 per share, equal to a 0.9% annualized yield.

Jupiter Topco LLC acquired a new stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 24,402 shares of the financial services provider's stock, valued at approximately $1,565,000.

A number of other institutional investors have also recently made changes to their positions in the stock. ICONIQ Capital LLC increased its position in Brown & Brown by 5.4% during the 2nd quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider's stock valued at $234,000 after purchasing an additional 109 shares during the period. Zacks Investment Management increased its holdings in shares of Brown & Brown by 0.7% during the third quarter. Zacks Investment Management now owns 17,854 shares of the financial services provider's stock valued at $1,675,000 after acquiring an additional 125 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of Brown & Brown by 2.1% during the third quarter. Moors & Cabot Inc. now owns 6,805 shares of the financial services provider's stock valued at $638,000 after acquiring an additional 142 shares in the last quarter. Independent Advisor Alliance raised its position in shares of Brown & Brown by 0.5% during the fourth quarter. Independent Advisor Alliance now owns 33,805 shares of the financial services provider's stock worth $2,694,000 after purchasing an additional 162 shares during the period. Finally, Crawford Investment Counsel Inc. lifted its holdings in shares of Brown & Brown by 0.6% in the 4th quarter. Crawford Investment Counsel Inc. now owns 28,750 shares of the financial services provider's stock worth $2,291,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Analyst Upgrades and Downgrades

BRO has been the topic of a number of recent research reports. BMO Capital Markets raised their price objective on shares of Brown & Brown from $73.00 to $74.00 and gave the company a "market perform" rating in a research note on Wednesday, July 29th. Wells Fargo & Company decreased their price objective on Brown & Brown from $69.00 to $68.00 and set an "equal weight" rating for the company in a report on Thursday, July 9th. Raymond James Financial reissued an "outperform" rating on shares of Brown & Brown in a research note on Friday, June 26th. Mizuho lifted their target price on Brown & Brown from $81.00 to $86.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. Finally, Barclays upped their price target on Brown & Brown from $72.00 to $76.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $76.80.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $71.42 on Friday. Brown & Brown, Inc. has a twelve month low of $53.81 and a twelve month high of $96.55. The stock's 50 day moving average price is $70.13 and its 200-day moving average price is $65.93. The company has a market capitalization of $23.90 billion, a PE ratio of 22.53, a PEG ratio of 2.23 and a beta of 0.58. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.01). The business had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.71 billion. Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The business's revenue was up 30.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 earnings per share. On average, equities analysts anticipate that Brown & Brown, Inc. will post 4.5 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. Brown & Brown's dividend payout ratio (DPR) is currently 20.82%.

Brown & Brown Profile

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.

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