Brown & Brown, Inc. (NYSE:BRO) Stock Holdings Trimmed by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,500,437 shares of the financial services provider’s stock after selling 15,848 shares during the quarter. California Public Employees Retirement System owned approximately 0.53% of Brown & Brown worth $106,696,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its position in shares of Brown & Brown by 1,861.7% during the third quarter. Assenagon Asset Management S.A. now owns 810,359 shares of the financial services provider’s stock worth $56,595,000 after buying an additional 769,051 shares during the period. FMR LLC boosted its position in shares of Brown & Brown by 81.9% during the third quarter. FMR LLC now owns 1,021,668 shares of the financial services provider’s stock worth $71,353,000 after buying an additional 460,068 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Brown & Brown by 1,831.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 397,763 shares of the financial services provider’s stock worth $27,780,000 after buying an additional 377,173 shares during the period. Royal Bank of Canada boosted its position in shares of Brown & Brown by 15.9% during the third quarter. Royal Bank of Canada now owns 1,715,645 shares of the financial services provider’s stock worth $119,821,000 after buying an additional 235,001 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Brown & Brown by 145.6% in the third quarter. Envestnet Asset Management Inc. now owns 396,141 shares of the financial services provider’s stock worth $27,666,000 after purchasing an additional 234,853 shares during the period. 71.01% of the stock is owned by institutional investors.

Brown & Brown Trading Up 0.5 %

NYSE BRO opened at $82.93 on Wednesday. Brown & Brown, Inc. has a 1-year low of $60.00 and a 1-year high of $87.99. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $23.66 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. The firm’s fifty day simple moving average is $84.26 and its 200-day simple moving average is $76.90.

Brown & Brown (NYSE:BRO) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.07 by $0.07. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.82%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. As a group, sell-side analysts anticipate that Brown & Brown, Inc. will post 3.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the sale, the chairman now directly owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 16.43% of the company’s stock.

Analyst Ratings Changes

BRO has been the subject of a number of recent research reports. The Goldman Sachs Group upgraded Brown & Brown from a “neutral” rating to a “buy” rating and cut their price objective for the company from $84.00 to $83.00 in a research report on Monday, January 8th. Wells Fargo & Company boosted their target price on shares of Brown & Brown from $81.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Bank of America downgraded shares of Brown & Brown from a “neutral” rating to an “underperform” rating and boosted their target price for the company from $80.00 to $86.00 in a research note on Wednesday, March 13th. Citigroup boosted their target price on shares of Brown & Brown from $89.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Raymond James boosted their target price on shares of Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $86.80.

Brown & Brown Company 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.