Orrstown Financial Services Inc. Trims Stock Position in Brown & Brown, Inc. (NYSE:BRO)

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Orrstown Financial Services Inc. lessened its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,102 shares of the financial services provider’s stock after selling 1,065 shares during the quarter. Orrstown Financial Services Inc.’s holdings in Brown & Brown were worth $938,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BRO. Louisiana State Employees Retirement System lifted its stake in shares of Brown & Brown by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 56,600 shares of the financial services provider’s stock valued at $2,235,000 after buying an additional 500 shares during the period. Wedbush Securities Inc. boosted its holdings in shares of Brown & Brown by 3.4% in the 4th quarter. Wedbush Securities Inc. now owns 13,725 shares of the financial services provider’s stock valued at $542,000 after buying an additional 445 shares during the last quarter. Sciencast Management LP acquired a new stake in shares of Brown & Brown during the fourth quarter worth $258,000. Investors Asset Management of Georgia Inc. GA ADV bought a new position in shares of Brown & Brown in the fourth quarter worth $205,000. Finally, Raymond James Trust N.A. grew its holdings in shares of Brown & Brown by 3.9% during the fourth quarter. Raymond James Trust N.A. now owns 18,268 shares of the financial services provider’s stock worth $721,000 after purchasing an additional 694 shares during the last quarter. 70.18% of the stock is currently owned by hedge funds and other institutional investors.

BRO has been the topic of a number of recent analyst reports. Morgan Stanley raised Brown & Brown from an “underweight” rating to an “equal” rating and set a $38.00 price objective on the stock in a research note on Thursday, December 5th. SunTrust Banks restated a “buy” rating and set a $46.00 price objective on shares of Brown & Brown in a report on Wednesday. ValuEngine downgraded Brown & Brown from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Raymond James upped their price target on Brown & Brown from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Barclays upped their price target on Brown & Brown from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $36.20.

Shares of BRO stock traded up $0.29 during trading on Friday, hitting $41.41. 1,302,688 shares of the stock traded hands, compared to its average volume of 1,467,282. The firm has a market capitalization of $11.31 billion, a P/E ratio of 33.67, a price-to-earnings-growth ratio of 2.66 and a beta of 0.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.97 and a quick ratio of 0.97. The firm’s fifty day moving average price is $39.19 and its 200-day moving average price is $36.95. Brown & Brown, Inc. has a 52-week low of $26.23 and a 52-week high of $41.13.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.39 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $618.70 million for the quarter, compared to analyst estimates of $610.36 million. Brown & Brown had a net margin of 17.04% and a return on equity of 12.39%. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. As a group, equities research analysts expect that Brown & Brown, Inc. will post 1.39 earnings per share for the current year.

In other Brown & Brown news, EVP Jerome Scott Penny sold 30,000 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $39.47, for a total value of $1,184,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.69% of the company’s stock.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.

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

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