Los Angeles Capital Management LLC Has $49.89 Million Position in Brown & Brown, Inc. (NYSE:BRO)

Los Angeles Capital Management LLC lowered its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 489,016 shares of the financial services provider’s stock after selling 57,987 shares during the quarter. Los Angeles Capital Management LLC owned 0.17% of Brown & Brown worth $49,889,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mogy Joel R Investment Counsel Inc. raised 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 increased its position in shares of Brown & Brown by 4.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock worth $18,104,000 after purchasing an additional 6,805 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Brown & Brown by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock worth $136,302,000 after purchasing an additional 17,934 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Brown & Brown during the 3rd quarter worth approximately $9,832,000. Finally, EULAV Asset Management increased its position in shares of Brown & Brown by 144.8% during the 4th quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock worth $43,960,000 after purchasing an additional 254,900 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on BRO shares. Keefe, Bruyette & Woods lowered their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company boosted their price target on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada boosted their price target on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Bank of America lifted their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley initiated coverage on Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Price Performance

Shares of BRO opened at $112.54 on Tuesday. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $114.15. The business has a 50-day simple moving average of $105.44 and a two-hundred day simple moving average of $105.62. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a market cap of $32.18 billion, a PE ratio of 32.53, a PEG ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.53%. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Brown & Brown Company Profile

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.