Bleakley Financial Group LLC Buys 554 Shares of Brown & Brown, Inc. (NYSE:BRO)

Bleakley Financial Group LLC increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 22.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,059 shares of the financial services provider’s stock after acquiring an additional 554 shares during the quarter. Bleakley Financial Group LLC’s holdings in Brown & Brown were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. State Board of Administration of Florida Retirement System grew its position in Brown & Brown by 2.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 267,190 shares of the financial services provider’s stock worth $23,390,000 after acquiring an additional 6,613 shares during the last quarter. Sei Investments Co. grew its position in Brown & Brown by 12.7% during the 1st quarter. Sei Investments Co. now owns 276,090 shares of the financial services provider’s stock worth $24,169,000 after acquiring an additional 31,071 shares during the last quarter. Great Valley Advisor Group Inc. bought a new position in Brown & Brown during the 2nd quarter worth approximately $1,512,000. DekaBank Deutsche Girozentrale grew its position in Brown & Brown by 12.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider’s stock worth $21,855,000 after acquiring an additional 27,879 shares during the last quarter. Finally, Norden Group LLC grew its position in Brown & Brown by 2,650.9% during the 1st quarter. Norden Group LLC now owns 99,856 shares of the financial services provider’s stock worth $8,741,000 after acquiring an additional 96,226 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Down 0.6 %

Brown & Brown stock opened at $105.44 on Wednesday. The firm has a market cap of $30.08 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.50 and a beta of 0.83. The stock has a fifty day simple moving average of $103.81 and a two-hundred day simple moving average of $94.85. Brown & Brown, Inc. has a 12 month low of $66.73 and a 12 month high of $107.67. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 EPS. Equities analysts predict that Brown & Brown, Inc. will post 3.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the completion of the sale, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at $8,872,802.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.02% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their price objective on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Royal Bank of Canada increased their price objective on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Argus assumed coverage on Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective for the company. Finally, UBS Group increased their price objective on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $105.67.

Brown & Brown 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.