Fuller & Thaler Asset Management Inc. Buys 72,775 Shares of Brown & Brown, Inc. (BRO)

Fuller & Thaler Asset Management Inc. grew its stake in Brown & Brown, Inc. (NYSE:BRO) by 2,140.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 76,175 shares of the financial services provider’s stock after buying an additional 72,775 shares during the period. Fuller & Thaler Asset Management Inc.’s holdings in Brown & Brown were worth $2,252,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Bruderman Asset Management LLC acquired a new stake in Brown & Brown during the second quarter worth approximately $117,000. Itau Unibanco Holding S.A. acquired a new stake in Brown & Brown during the second quarter worth approximately $144,000. Virtu Financial LLC acquired a new stake in Brown & Brown during the third quarter worth approximately $215,000. PEAK6 Investments LLC acquired a new stake in Brown & Brown during the third quarter worth approximately $217,000. Finally, SRS Capital Advisors Inc. acquired a new stake in Brown & Brown during the third quarter worth approximately $221,000. 71.58% of the stock is owned by institutional investors.

Shares of BRO opened at $29.02 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $8.10 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 2.34 and a beta of 0.75. Brown & Brown, Inc. has a 12 month low of $24.34 and a 12 month high of $31.55.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 22nd. The financial services provider reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.04. The company had revenue of $530.90 million during the quarter, compared to the consensus estimate of $508.82 million. Brown & Brown had a return on equity of 12.36% and a net margin of 23.15%. Brown & Brown’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share. On average, equities research analysts predict that Brown & Brown, Inc. will post 1.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 7th. Investors of record on Friday, October 26th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.10%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, October 25th. Brown & Brown’s dividend payout ratio (DPR) is presently 33.33%.

In related news, EVP Anthony T. Strianese sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $28.66, for a total transaction of $57,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 17.12% of the company’s stock.

Several equities research analysts recently commented on the company. Credit Suisse Group assumed coverage on Brown & Brown in a research note on Tuesday, August 7th. They set a “neutral” rating and a $31.00 target price for the company. Morgan Stanley increased their price target on Brown & Brown from $26.00 to $28.00 and gave the stock an “underweight” rating in a report on Tuesday, August 14th. Wells Fargo & Co reiterated a “hold” rating and issued a $28.00 price target on shares of Brown & Brown in a report on Monday, October 22nd. Zacks Investment Research lowered Brown & Brown from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, Barclays increased their price target on Brown & Brown from $23.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, November 12th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $29.45.

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About Brown & Brown

Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.

Read More: Understanding Price to Earnings Ratio (PE)

Want to see what other hedge funds are holding BRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brown & Brown, Inc. (NYSE:BRO).

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

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