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

Landscape Capital Management L.L.C. purchased a new position in Brown & Brown, Inc. (NYSE:BRO) in the second quarter, Holdings Channel.com reports. The fund purchased 16,850 shares of the financial services provider’s stock, valued at approximately $1,081,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in Brown & Brown in the second quarter worth about $1,418,571,000. Norges Bank bought a new position in shares of Brown & Brown in the 4th quarter worth approximately $516,837,000. Capital International Investors bought a new position in shares of Brown & Brown in the 4th quarter worth approximately $371,654,000. Deutsche Bank AG purchased a new position in shares of Brown & Brown in the 2nd quarter valued at approximately $266,941,000. Finally, Van Lanschot Kempen Investment Management N.V. lifted its stake in shares of Brown & Brown by 132.8% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,538,584 shares of the financial services provider’s stock valued at $361,725,000 after purchasing an additional 2,589,048 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Trading Down 0.0%

Shares of NYSE:BRO opened at $72.89 on Monday. The stock’s 50-day simple moving average is $67.66 and its two-hundred day simple moving average is $65.75. The stock has a market capitalization of $24.39 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 3.63 and a beta of 0.59. Brown & Brown, Inc. has a 52-week low of $53.81 and a 52-week high of $97.73. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.11 and a current ratio of 2.11.

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

Brown & Brown Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays upped their price target on Brown & Brown from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Mizuho increased their price target on shares of Brown & Brown from $81.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a report on Friday, June 26th. Royal Bank Of Canada restated a “sector perform” rating on shares of Brown & Brown in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. boosted their price target on Brown & Brown from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $76.80.

Brown & Brown Company 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.