Landscape Capital Management L.L.C. Buys Shares of 16,850 Brown & Brown, Inc. $BRO

Key Points

• Landscape Capital Management acquired 16,850 shares of Brown & Brown worth approximately $1.08 million, while institutional investors collectively own 71.01% of the company.
• Analysts maintain a largely cautious outlook: the stock has a consensus rating of “Hold” and an average price target of $76.80, despite several outperform and buy ratings.
• Brown & Brown’s latest quarterly results slightly missed estimates, with EPS of $1.07 versus $1.08 expected and revenue of $1.65 billion versus $1.71 billion forecast; however, revenue increased 30.4% year over year. The company also declared a quarterly dividend of $0.165 per share.

Landscape Capital Management L.L.C. purchased a new position in Brown & Brown, Inc. (NYSE:BRO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 16,850 shares of the financial services provider's stock, valued at approximately $1,081,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Brown & Brown by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 37,634,847 shares of the financial services provider's stock worth $2,999,497,000 after acquiring an additional 303,955 shares during the last quarter. BlackRock Inc. purchased a new position in Brown & Brown in the second quarter worth $1,418,571,000. Capital World Investors increased its stake in Brown & Brown by 2.3% in the fourth quarter. Capital World Investors now owns 17,886,395 shares of the financial services provider's stock valued at $1,425,546,000 after acquiring an additional 407,006 shares during the last quarter. Principal Financial Group Inc. increased its stake in Brown & Brown by 1.6% in the first quarter. Principal Financial Group Inc. now owns 15,608,720 shares of the financial services provider's stock valued at $1,017,847,000 after acquiring an additional 246,172 shares during the last quarter. Finally, State Street Corp raised its position in Brown & Brown by 2.2% during the fourth quarter. State Street Corp now owns 13,403,814 shares of the financial services provider's stock valued at $1,068,284,000 after purchasing an additional 282,988 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BRO shares. Truist Financial set a $90.00 price target on Brown & Brown in a research note on Wednesday, July 29th. Citizens Jmp increased their price objective on Brown & Brown from $70.00 to $78.00 and gave the company a "market outperform" rating in a research report on Friday, July 10th. Citigroup cut Brown & Brown from an "outperform" rating to a "neutral" rating and raised their price objective for the company from $70.00 to $79.00 in a report on Wednesday, July 29th. Jefferies Financial Group restated a "hold" rating on shares of Brown & Brown in a research report on Wednesday, July 29th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Brown & Brown in a research note on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $76.80.

Brown & Brown Price Performance

Shares of NYSE:BRO opened at $72.89 on Monday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. The stock has a market cap of $24.39 billion, a PE ratio of 22.99, a PEG ratio of 3.63 and a beta of 0.59. The company's fifty day moving average is $67.66 and its 200 day moving average is $65.75. Brown & Brown, Inc. has a 52 week low of $53.81 and a 52 week high of $97.73.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). The business had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.71 billion. Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The business's quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 earnings per share. Research analysts anticipate that Brown & Brown, Inc. will post 4.5 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 12th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.66 annualized dividend and a yield of 0.9%. Brown & Brown's dividend payout ratio is presently 20.82%.

Brown & Brown Profile

Brown & Brown, Inc NYSE: BRO is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.

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