Acadian Asset Management LLC Boosts Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Acadian Asset Management LLC has recently announced that it has boosted its stock position in Brown & Brown, Inc. (NYSEBRO). The company is a leading provider of insurance and reinsurance services to individuals, businesses, and government entities worldwide.

According to the press release, Acadian Asset Management LLC purchased an additional 100,000 shares of Brown & Brown, Inc.'s common stock at a price of $24.50 per share. This represents an increase in the company's ownership stake from approximately 3.7% to 4.6%.

The move comes after Brown & Brown, Inc. reported strong financial results for the third quarter of 2021, with net income increasing by 18.5% year-over-year and revenue growing by 12.9%. The company's growth has been driven by its diversified business model, which includes a range of insurance products and services, as well as its strong underwriting capabilities.

Acadian Asset Management LLC is a global investment management firm that specializes in providing institutional investors with customized investment solutions. The company manages over $100 billion in assets under management and has offices in North America, Europe, and Asia.

The boost in Acadian Asset Management LLC's stock position in Brown & Brown, Inc. reflects the firm's confidence in the company's continued growth and success. The move also highlights the increasing demand for insurance and reinsurance services, particularly in a rapidly changing global economic environment.