Los Angeles Capital Management LLC Has $29.47 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Los Angeles Capital Management LLC lowered its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 51.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 236,854 shares of the financial services provider's stock after selling 252,162 shares during the period. Los Angeles Capital Management LLC owned about 0.08% of Brown & Brown worth $29,465,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BRO. Bank Pictet & Cie Europe AG bought a new position in Brown & Brown during the 4th quarter worth approximately $907,000. Signaturefd LLC raised its position in shares of Brown & Brown by 14.3% during the 4th quarter. Signaturefd LLC now owns 1,812 shares of the financial services provider's stock worth $185,000 after purchasing an additional 227 shares during the period. Blueshift Asset Management LLC acquired a new stake in Brown & Brown in the 4th quarter valued at approximately $230,000. Virtu Financial LLC increased its position in Brown & Brown by 76.9% in the 4th quarter. Virtu Financial LLC now owns 3,791 shares of the financial services provider's stock valued at $387,000 after acquiring an additional 1,648 shares during the period. Finally, Mizuho Securities USA LLC increased its position in Brown & Brown by 46.5% in the 4th quarter. Mizuho Securities USA LLC now owns 22,495 shares of the financial services provider's stock valued at $2,295,000 after acquiring an additional 7,142 shares during the period. Hedge funds and other institutional investors own 71.01% of the company's stock.

Wall Street Analyst Weigh In

BRO has been the topic of several analyst reports. Wells Fargo & Company restated an "overweight" rating and issued a $127.00 target price (up from $125.00) on shares of Brown & Brown in a research report on Thursday, June 12th. Truist Financial lowered their price target on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. UBS Group raised their price objective on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 9th. Barclays reduced their price objective on Brown & Brown from $121.00 to $111.00 and set an "equal weight" rating for the company in a research note on Monday, July 7th. Finally, Jefferies Financial Group raised their target price on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $118.23.

Brown & Brown Stock Up 0.3%

NYSE BRO traded up $0.27 during trading on Thursday, hitting $103.45. 996,970 shares of the company traded hands, compared to its average volume of 2,381,942. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $108.66 and a 200 day simple moving average of $111.45. The company has a market capitalization of $29.66 billion, a P/E ratio of 28.82, a PEG ratio of 2.26 and a beta of 0.82. Brown & Brown, Inc. has a 12 month low of $97.21 and a 12 month high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The company's revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 earnings per share. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 13th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.58%. Brown & Brown's payout ratio is 16.71%.

About Brown & Brown

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.