Otter Creek Advisors LLC Acquires 1,564 Shares of Brown & Brown, Inc. (NYSE:BRO)

Otter Creek Advisors LLC grew its holdings in Brown & Brown, Inc. (NYSE:BRO) by 4.2% in the 3rd quarter, Holdings Channel reports. The fund owned 39,213 shares of the financial services provider’s stock after purchasing an additional 1,564 shares during the quarter. Brown & Brown accounts for 2.6% of Otter Creek Advisors LLC’s portfolio, making the stock its 24th biggest position. Otter Creek Advisors LLC’s holdings in Brown & Brown were worth $4,062,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its position in shares of Brown & Brown by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock worth $1,819,000 after buying an additional 100 shares during the period. Trust Point Inc. boosted its position in Brown & Brown by 4.3% during the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 103 shares during the last quarter. Creative Planning boosted its position in Brown & Brown by 0.4% during the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after purchasing an additional 112 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in Brown & Brown by 0.5% during the third quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider’s stock valued at $2,375,000 after purchasing an additional 113 shares during the last quarter. Finally, Anchor Investment Management LLC boosted its position in Brown & Brown by 4.0% during the second quarter. Anchor Investment Management LLC now owns 3,286 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 125 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BRO has been the subject of several recent research reports. Royal Bank of Canada increased their price target on Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays increased their price target on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday. Keefe, Bruyette & Woods increased their price target on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Finally, Bank of America upped their price objective on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $107.42.

Insider Activity at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 17.02% of the stock is currently owned by company insiders.

Brown & Brown Trading Up 1.2 %

Shares of BRO stock opened at $110.95 on Friday. The stock’s fifty day moving average price is $105.80 and its two-hundred day moving average price is $98.54. The company has a market cap of $31.73 billion, a PE ratio of 30.23, a P/E/G ratio of 2.52 and a beta of 0.82. Brown & Brown, Inc. has a fifty-two week low of $69.13 and a fifty-two week high of $114.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. Equities analysts predict that Brown & Brown, Inc. will post 3.74 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a dividend of $0.15 per share. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.