Los Angeles Capital Management & Equity Research Inc. raised its position in Brown & Brown, Inc. (NYSE:BRO) by 15.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,350 shares of the financial services provider’s stock after purchasing an additional 5,020 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Brown & Brown were worth $1,800,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Teacher Retirement System of Texas grew its stake in Brown & Brown by 1.1% during the second quarter. Teacher Retirement System of Texas now owns 9,529 shares of the financial services provider’s stock worth $410,000 after purchasing an additional 105 shares during the period. World Asset Management Inc grew its stake in Brown & Brown by 1.7% during the second quarter. World Asset Management Inc now owns 7,326 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 120 shares during the period. Pzena Investment Management LLC grew its stake in Brown & Brown by 2.8% during the second quarter. Pzena Investment Management LLC now owns 5,087 shares of the financial services provider’s stock worth $219,000 after purchasing an additional 138 shares during the period. State of Wisconsin Investment Board grew its stake in Brown & Brown by 0.6% during the second quarter. State of Wisconsin Investment Board now owns 23,381 shares of the financial services provider’s stock worth $1,007,000 after purchasing an additional 140 shares during the period. Finally, Rowland & Co. Investment Counsel ADV grew its stake in Brown & Brown by 4.1% during the second quarter. Rowland & Co. Investment Counsel ADV now owns 4,465 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 175 shares during the period. Hedge funds and other institutional investors own 72.35% of the company’s stock.

BRO has been the subject of a number of research reports. Zacks Investment Research cut Brown & Brown from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Morgan Stanley raised their price objective on Brown & Brown from $40.00 to $43.00 and gave the company an “underweight” rating in a research note on Wednesday, October 18th. Barclays PLC raised their price objective on Brown & Brown from $39.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 16th. Wells Fargo & Company reissued a “hold” rating on shares of Brown & Brown in a research note on Tuesday, August 15th. Finally, BidaskClub cut Brown & Brown from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.11.

In related news, Director Richard Silas sold 50,000 shares of Brown & Brown stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $0.83, for a total transaction of $41,500.00. Also, insider Michael Waldkirch sold 75,000 shares of Brown & Brown stock in a transaction on Friday, October 20th. The stock was sold at an average price of $0.75, for a total value of $56,250.00. Insiders have sold 163,000 shares of company stock worth $126,250 over the last quarter. 16.98% of the stock is currently owned by corporate insiders.

Brown & Brown, Inc. (NYSE BRO) opened at $50.05 on Friday. Brown & Brown, Inc. has a fifty-two week low of $41.10 and a fifty-two week high of $50.81. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $7,020.37, a P/E ratio of 26.93, a PEG ratio of 2.70 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 16th. The financial services provider reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.04. Brown & Brown had a return on equity of 10.99% and a net margin of 14.66%. The company had revenue of $475.60 million for the quarter, compared to analyst estimates of $475.13 million. During the same quarter last year, the company earned $0.50 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. sell-side analysts forecast that Brown & Brown, Inc. will post 1.86 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 8th. Stockholders of record on Friday, October 27th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, October 26th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.14. Brown & Brown’s dividend payout ratio (DPR) is currently 31.75%.

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Brown & Brown Profile

Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.

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Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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