Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 129.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 547,003 shares of the financial services provider’s stock after acquiring an additional 308,458 shares during the period. Los Angeles Capital Management LLC owned about 0.19% of Brown & Brown worth $56,670,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Royal London Asset Management Ltd. raised its position in shares of Brown & Brown by 105.1% in the second quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock valued at $184,930,000 after buying an additional 1,059,711 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Brown & Brown by 24.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock valued at $311,979,000 after buying an additional 687,783 shares during the last quarter. Capital World Investors raised its position in shares of Brown & Brown by 50.5% in the first quarter. Capital World Investors now owns 1,413,224 shares of the financial services provider’s stock valued at $123,714,000 after buying an additional 473,982 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Brown & Brown by 123.9% in the second quarter. Natixis Advisors LLC now owns 733,668 shares of the financial services provider’s stock valued at $65,597,000 after buying an additional 406,064 shares during the last quarter. Finally, Truist Financial Corp raised its position in shares of Brown & Brown by 392.3% in the second quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider’s stock valued at $42,287,000 after buying an additional 376,892 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Up 1.9 %

Shares of NYSE BRO traded up $2.08 during trading on Friday, reaching $112.43. 1,210,905 shares of the stock were exchanged, compared to its average volume of 1,323,175. The business’s 50-day moving average price is $104.75 and its 200 day moving average price is $96.96. Brown & Brown, Inc. has a twelve month low of $69.13 and a twelve month high of $114.08. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $32.15 billion, a price-to-earnings ratio of 30.63, a price-to-earnings-growth ratio of 2.55 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities analysts forecast that Brown & Brown, Inc. will post 3.73 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, November 6th. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.53%. Brown & Brown’s dividend payout ratio is currently 16.35%.

Insider Activity at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Argus assumed coverage on shares of Brown & Brown in a research report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Barclays started coverage on shares of Brown & Brown in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 target price for the company. Royal Bank of Canada boosted their target price on shares of Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Bank of America boosted their target price on shares of Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.50.

Brown & Brown Company 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.