Jackson Hill Advisors LLC Acquires 105,000 Shares of Brown & Brown, Inc. $BRO

Key Points

• Jackson Hill Advisors LLC boosted its Brown & Brown stake by 161.5% in Q4, buying 105,000 additional shares and bringing its total to 170,000 shares worth about $13.55 million.
• Brown & Brown reported better-than-expected quarterly results, with EPS of $1.39 versus $1.36 estimated and revenue of $1.90 billion, up 35.4% year over year.
• The stock has fallen recently, opening at $55.04 and trading near its 52-week low, while analysts currently rate it a consensus Hold with a $79.44 price target.

Jackson Hill Advisors LLC lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 161.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,000 shares of the financial services provider's stock after acquiring an additional 105,000 shares during the quarter. Brown & Brown comprises approximately 6.3% of Jackson Hill Advisors LLC's holdings, making the stock its 9th biggest holding. Jackson Hill Advisors LLC's holdings in Brown & Brown were worth $13,549,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Darwin Wealth Management LLC purchased a new stake in Brown & Brown during the 2nd quarter worth $30,000. Cornerstone Planning Group LLC increased its stake in Brown & Brown by 423.1% during the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider's stock worth $26,000 after buying an additional 220 shares during the period. Basepoint Wealth LLC purchased a new stake in Brown & Brown during the 4th quarter worth $27,000. Board of the Pension Protection Fund purchased a new stake in Brown & Brown during the 4th quarter worth $40,000. Finally, Smartleaf Asset Management LLC increased its stake in Brown & Brown by 36.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 735 shares of the financial services provider's stock worth $68,000 after buying an additional 198 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

Insider Activity at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was acquired at an average cost of $57.10 per share, with a total value of $114,200.00. Following the acquisition, the director owned 47,621 shares of the company's stock, valued at approximately $2,719,159.10. This represents a 4.38% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 13.13% of the company's stock.

Brown & Brown Trading Down 2.7%

NYSE BRO opened at $55.04 on Thursday. Brown & Brown, Inc. has a one year low of $53.81 and a one year high of $112.84. The company has a 50-day simple moving average of $61.93 and a 200-day simple moving average of $70.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a market capitalization of $18.65 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.61 and a beta of 0.63.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the business posted $1.29 EPS. The company's quarterly revenue was up 35.4% on a year-over-year basis. On average, equities analysts forecast that Brown & Brown, Inc. will post 4.51 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 11th were issued a $0.165 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. Brown & Brown's payout ratio is 21.22%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BRO shares. Citizens Jmp started coverage on shares of Brown & Brown in a research note on Thursday, May 21st. They set a "market outperform" rating and a $70.00 price target on the stock. The Goldman Sachs Group dropped their price target on shares of Brown & Brown from $82.00 to $73.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 8th. Royal Bank Of Canada dropped their price target on shares of Brown & Brown from $76.00 to $72.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods dropped their price target on shares of Brown & Brown from $74.00 to $72.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 29th. Finally, Morgan Stanley dropped their price target on shares of Brown & Brown from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 21st. Five equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $79.44.

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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