Los Angeles Capital Management LLC Sells 57,987 Shares of Brown & Brown, Inc. (NYSE:BRO)

Los Angeles Capital Management LLC lessened its stake in Brown & Brown, Inc. (NYSE:BRO) by 10.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 489,016 shares of the financial services provider’s stock after selling 57,987 shares during the period. Los Angeles Capital Management LLC’s holdings in Brown & Brown were worth $49,889,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Amalgamated Bank grew its stake in Brown & Brown by 0.8% during the fourth quarter. Amalgamated Bank now owns 51,904 shares of the financial services provider’s stock worth $5,295,000 after purchasing an additional 421 shares during the period. FourThought Financial Partners LLC acquired a new stake in Brown & Brown in the fourth quarter valued at approximately $223,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Brown & Brown by 20.6% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 88,443 shares of the financial services provider’s stock valued at $9,023,000 after acquiring an additional 15,100 shares during the period. Allianz Asset Management GmbH grew its stake in Brown & Brown by 36.0% in the fourth quarter. Allianz Asset Management GmbH now owns 423,017 shares of the financial services provider’s stock valued at $43,156,000 after acquiring an additional 111,883 shares during the period. Finally, Suncoast Equity Management boosted its position in shares of Brown & Brown by 11.5% during the fourth quarter. Suncoast Equity Management now owns 16,010 shares of the financial services provider’s stock valued at $1,633,000 after buying an additional 1,655 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BRO. Royal Bank of Canada lifted their target price on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Morgan Stanley started coverage on Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 target price on the stock. Keefe, Bruyette & Woods dropped their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, Truist Financial lifted their price target on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and an average price target of $113.17.

Brown & Brown Price Performance

Brown & Brown stock opened at $112.54 on Tuesday. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $114.15. The business has a 50-day simple moving average of $105.44 and a 200 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 price-to-earnings ratio of 32.53, a PEG ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data 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%. On average, research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

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

Brown & Brown 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.