Quantbot Technologies LP acquired a new position in shares of Brown & Brown, Inc. (NYSE:BRO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 28,385 shares of the financial services provider’s stock, valued at approximately $839,000.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in Brown & Brown by 1.3% in the third quarter. BlackRock Inc. now owns 20,523,179 shares of the financial services provider’s stock valued at $606,870,000 after buying an additional 268,511 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Brown & Brown by 1.8% in the third quarter. Wells Fargo & Company MN now owns 12,193,170 shares of the financial services provider’s stock valued at $360,551,000 after buying an additional 217,552 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Brown & Brown by 10.5% in the third quarter. Victory Capital Management Inc. now owns 6,419,474 shares of the financial services provider’s stock valued at $189,824,000 after buying an additional 610,726 shares during the last quarter. Select Equity Group L.P. increased its holdings in Brown & Brown by 23.8% in the second quarter. Select Equity Group L.P. now owns 5,591,244 shares of the financial services provider’s stock valued at $155,045,000 after buying an additional 1,075,295 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in Brown & Brown by 0.8% in the third quarter. Schroder Investment Management Group now owns 2,920,448 shares of the financial services provider’s stock valued at $86,358,000 after buying an additional 23,482 shares during the last quarter. 71.58% of the stock is currently owned by institutional investors and hedge funds.

In other Brown & Brown news, EVP Anthony T. Strianese sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $28.66, for a total transaction of $57,320.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 17.12% of the company’s stock.

BRO has been the topic of several recent analyst reports. Citigroup set a $27.00 target price on Brown & Brown and gave the company a “sell” rating in a report on Wednesday, September 19th. Zacks Investment Research raised Brown & Brown from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Tuesday, September 25th. Barclays increased their target price on Brown & Brown from $23.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, November 12th. Wells Fargo & Co reissued a “hold” rating and issued a $28.00 target price on shares of Brown & Brown in a report on Monday, October 22nd. Finally, Morgan Stanley raised their price objective on Brown & Brown from $26.00 to $28.00 and gave the stock an “underweight” rating in a report on Tuesday, August 14th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $29.45.

Shares of BRO stock opened at $28.59 on Wednesday. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 2.35 and a beta of 0.75. Brown & Brown, Inc. has a 1 year low of $24.34 and a 1 year high of $31.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.96 and a current ratio of 0.96.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, October 22nd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $530.90 million for the quarter, compared to analyst estimates of $508.82 million. Brown & Brown had a return on equity of 12.36% and a net margin of 23.15%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 earnings per share. Analysts predict that Brown & Brown, Inc. will post 1.24 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 7th. Shareholders of record on Friday, October 26th were issued a dividend of $0.08 per share. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, October 25th. This represents a $0.32 annualized dividend and a dividend yield of 1.12%. Brown & Brown’s dividend payout ratio (DPR) is presently 33.33%.

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Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.

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

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