Los Angeles Capital Management LLC trimmed its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 489,016 shares of the financial services provider's stock after selling 57,987 shares during the period. Los Angeles Capital Management LLC owned 0.17% of Brown & Brown worth $49,889,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mogy Joel R Investment Counsel Inc. boosted its position in Brown & Brown by 324.3% in the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider's stock valued at $1,967,000 after buying an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Brown & Brown by 4.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider's stock valued at $18,104,000 after buying an additional 6,805 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Brown & Brown by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider's stock valued at $136,302,000 after buying an additional 17,934 shares during the last quarter. Quantbot Technologies LP purchased a new position in Brown & Brown in the 3rd quarter valued at about $9,832,000. Finally, EULAV Asset Management boosted its position in Brown & Brown by 144.8% in the 4th quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider's stock valued at $43,960,000 after buying an additional 254,900 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. StockNews.com cut shares of Brown & Brown from a "buy" rating to a "hold" rating in a research report on Saturday, November 2nd. Bank of America upped their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Morgan Stanley started coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They issued an "overweight" rating and a $134.00 target price on the stock. Royal Bank of Canada upped their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating on the stock in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $113.17.
View Our Latest Report on Brown & Brown
Brown & Brown Stock Performance
BRO traded up $2.09 on Friday, hitting $118.59. 2,260,902 shares of the company's stock were exchanged, compared to its average volume of 1,587,246. The firm has a market cap of $33.91 billion, a PE ratio of 34.27, a P/E/G ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a twelve month low of $80.33 and a twelve month high of $118.80. The stock has a fifty day moving average of $106.24 and a two-hundred day moving average of $105.86. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.
Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, research analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.
Brown & Brown Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.51%. Brown & Brown's payout ratio is currently 17.34%.
Brown & Brown Profile
(
Free Report)
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.
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