7,892 Shares in Brown & Brown, Inc. (NYSE:BRO) Purchased by Quantitative Systematic Strategies LLC

Quantitative Systematic Strategies LLC purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 7,892 shares of the financial services provider’s stock, valued at approximately $357,000.

A number of other institutional investors have also bought and sold shares of the stock. CX Institutional lifted its position in Brown & Brown by 1.3% during the third quarter. CX Institutional now owns 18,057 shares of the financial services provider’s stock worth $817,000 after acquiring an additional 236 shares during the last quarter. Prestige Wealth Management Group LLC lifted its position in Brown & Brown by 45.9% during the third quarter. Prestige Wealth Management Group LLC now owns 1,020 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 321 shares during the last quarter. HWG Holdings LP lifted its position in Brown & Brown by 1.9% during the third quarter. HWG Holdings LP now owns 17,199 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 325 shares during the last quarter. Prospera Financial Services Inc lifted its position in Brown & Brown by 2.1% during the second quarter. Prospera Financial Services Inc now owns 17,367 shares of the financial services provider’s stock worth $708,000 after acquiring an additional 360 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Brown & Brown by 0.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 39,578 shares of the financial services provider’s stock worth $1,792,000 after acquiring an additional 363 shares during the last quarter. Institutional investors and hedge funds own 67.82% of the company’s stock.

Several equities research analysts have issued reports on BRO shares. SunTrust Banks raised their price objective on shares of Brown & Brown from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Zacks Investment Research upgraded shares of Brown & Brown from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective for the company in a research report on Friday, October 30th. Credit Suisse Group lifted their price target on shares of Brown & Brown from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Royal Bank of Canada lifted their price target on shares of Brown & Brown from $38.00 to $44.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 29th. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their price target on shares of Brown & Brown from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 28th. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Brown & Brown has an average rating of “Hold” and a consensus price target of $46.25.

Shares of BRO opened at $47.18 on Friday. Brown & Brown, Inc. has a one year low of $30.70 and a one year high of $48.69. The company has a market cap of $13.40 billion, a P/E ratio of 29.12 and a beta of 0.71. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $46.21 and a two-hundred day simple moving average of $43.55.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Saturday, October 31st. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.43 by $0.09. Brown & Brown had a net margin of 18.02% and a return on equity of 13.26%. The business had revenue of $674.00 million during the quarter, compared to the consensus estimate of $645.46 million. During the same period in the previous year, the business earned $0.39 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. On average, analysts expect that Brown & Brown, Inc. will post 1.63 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 18th. Shareholders of record on Wednesday, November 4th were given a dividend of $0.093 per share. This is an increase from Brown & Brown’s previous quarterly dividend of $0.09. This represents a $0.37 annualized dividend and a yield of 0.79%. The ex-dividend date was Tuesday, November 3rd. Brown & Brown’s payout ratio is currently 26.43%.

Brown & Brown Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.

See Also: Cost of Goods Sold (COGS)

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

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