Burgundy Asset Management Ltd. boosted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,453,654 shares of the financial services provider’s stock after purchasing an additional 59,459 shares during the quarter. Burgundy Asset Management Ltd. owned approximately 1.04% of Brown & Brown worth $70,052,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in Brown & Brown by 9.8% in the second quarter. IFP Advisors Inc now owns 2,823 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 251 shares during the period. Mosaic Family Wealth LLC boosted its holdings in Brown & Brown by 5.9% in the second quarter. Mosaic Family Wealth LLC now owns 4,208 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 235 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Brown & Brown by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,322 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 405 shares during the period. Rowland & Co. Investment Counsel ADV boosted its holdings in Brown & Brown by 4.1% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 4,465 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 175 shares during the period. Finally, Parametrica Management Ltd acquired a new position in Brown & Brown in the third quarter worth $218,000. 71.95% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on BRO shares. SunTrust Banks upgraded Brown & Brown from a “hold” rating to a “buy” rating in a research note on Wednesday, December 6th. Zacks Investment Research upgraded Brown & Brown from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Wednesday, November 1st. Wells Fargo & Co set a $45.00 target price on Brown & Brown and gave the company a “hold” rating in a research note on Monday, October 16th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $45.00 target price on shares of Brown & Brown in a research note on Monday, October 16th. Finally, Citigroup cut Brown & Brown from a “neutral” rating to a “sell” rating and set a $47.00 target price on the stock. in a research note on Wednesday, November 8th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Brown & Brown has a consensus rating of “Hold” and an average price target of $46.13.
Shares of Brown & Brown, Inc. (NYSE BRO) traded down $0.32 during midday trading on Friday, hitting $51.46. 289,593 shares of the company were exchanged, compared to its average volume of 468,650. Brown & Brown, Inc. has a fifty-two week low of $41.10 and a fifty-two week high of $52.42. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $7,218.32, a PE ratio of 27.23, a P/E/G ratio of 2.76 and a beta of 0.80.
Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, October 16th. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Brown & Brown had a net margin of 14.66% and a return on equity of 10.99%. The business had revenue of $475.60 million for the quarter, compared to analysts’ expectations of $475.13 million. During the same period in the previous year, the business earned $0.50 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. analysts expect that Brown & Brown, Inc. will post 1.88 EPS for the current year.
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About Brown & Brown
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.
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