BB&T Securities LLC Grows Stake in Brown & Brown, Inc. (BRO)

BB&T Securities LLC lifted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,356 shares of the financial services provider’s stock after acquiring an additional 5,573 shares during the quarter. BB&T Securities LLC’s holdings in Brown & Brown were worth $2,283,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Brown & Brown by 124.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,642 shares of the financial services provider’s stock valued at $372,000 after purchasing an additional 8,123 shares during the last quarter. Prudential Financial Inc. increased its holdings in Brown & Brown by 103.5% in the first quarter. Prudential Financial Inc. now owns 173,484 shares of the financial services provider’s stock valued at $4,413,000 after purchasing an additional 88,232 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Brown & Brown by 95.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 377,038 shares of the financial services provider’s stock valued at $9,592,000 after purchasing an additional 184,376 shares during the last quarter. Swiss National Bank increased its holdings in Brown & Brown by 104.4% in the first quarter. Swiss National Bank now owns 413,800 shares of the financial services provider’s stock valued at $10,527,000 after purchasing an additional 211,400 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in Brown & Brown by 93.5% in the first quarter. M&T Bank Corp now owns 14,928 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 7,214 shares during the last quarter. Hedge funds and other institutional investors own 71.95% of the company’s stock.

A number of equities research analysts recently commented on the company. Wells Fargo & Co reiterated a “hold” rating and issued a $26.00 price objective on shares of Brown & Brown in a report on Monday, July 23rd. Morgan Stanley upped their price objective on Brown & Brown from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Tuesday, August 14th. Credit Suisse Group assumed coverage on Brown & Brown in a report on Tuesday, August 7th. They issued a “neutral” rating and a $31.00 price objective for the company. Royal Bank of Canada reiterated a “hold” rating and issued a $30.00 price objective on shares of Brown & Brown in a report on Wednesday, July 25th. Finally, SunTrust Banks restated a “buy” rating and issued a $33.00 price target on shares of Brown & Brown in a report on Tuesday, July 24th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Brown & Brown presently has a consensus rating of “Hold” and an average price target of $28.13.

Shares of Brown & Brown stock opened at $31.07 on Friday. Brown & Brown, Inc. has a 1 year low of $22.66 and a 1 year high of $31.55. The stock has a market capitalization of $8.71 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 2.56 and a beta of 0.69. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.30.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 23rd. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.02). Brown & Brown had a return on equity of 11.75% and a net margin of 22.25%. The business had revenue of $473.10 million during the quarter, compared to the consensus estimate of $472.74 million. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. research analysts predict that Brown & Brown, Inc. will post 1.22 EPS for the current fiscal year.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.

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

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