Steward Partners Investment Advisory LLC Invests $471,000 in Brown & Brown, Inc. (BRO) Stock

Steward Partners Investment Advisory LLC acquired a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,781 shares of the financial services provider’s stock, valued at approximately $471,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BRO. Victory Capital Management Inc. grew its holdings in shares of Brown & Brown by 59.9% during the third quarter. Victory Capital Management Inc. now owns 3,344,841 shares of the financial services provider’s stock valued at $161,187,000 after buying an additional 1,253,538 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Brown & Brown by 4.4% during the second quarter. Vanguard Group Inc. now owns 11,226,387 shares of the financial services provider’s stock valued at $483,521,000 after buying an additional 468,116 shares during the last quarter. Citadel Advisors LLC grew its holdings in shares of Brown & Brown by 932.3% during the third quarter. Citadel Advisors LLC now owns 443,912 shares of the financial services provider’s stock valued at $21,392,000 after buying an additional 400,910 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Brown & Brown by 7.3% during the second quarter. Wells Fargo & Company MN now owns 5,673,614 shares of the financial services provider’s stock valued at $244,362,000 after buying an additional 388,294 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Brown & Brown by 31.7% during the second quarter. Renaissance Technologies LLC now owns 1,430,400 shares of the financial services provider’s stock valued at $61,607,000 after buying an additional 344,100 shares during the last quarter. 71.96% of the stock is currently owned by hedge funds and other institutional investors.

BRO has been the topic of several recent research reports. SunTrust Banks raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. Zacks Investment Research raised shares of Brown & Brown from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Wednesday, November 1st. Wells Fargo & Company set a $45.00 price target on shares of Brown & Brown and gave the company a “hold” rating in a report on Monday, October 16th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $45.00 price target on shares of Brown & Brown in a report on Monday, October 16th. Finally, Citigroup lowered shares of Brown & Brown from a “neutral” rating to a “sell” rating and set a $47.00 price target on the stock. in a report on Wednesday, November 8th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Brown & Brown has a consensus rating of “Hold” and a consensus price target of $46.13.

In other Brown & Brown news, insider Michael Waldkirch sold 75,000 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $0.75, for a total value of $56,250.00. Also, Director Richard Silas sold 38,000 shares of the company’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $0.75, for a total transaction of $28,500.00. Over the last ninety days, insiders sold 163,000 shares of company stock worth $126,250. 16.98% of the stock is owned by corporate insiders.

Shares of Brown & Brown, Inc. (NYSE BRO) opened at $51.18 on Monday. Brown & Brown, Inc. has a 1-year low of $41.10 and a 1-year high of $52.42. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $7,134.70, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 2.73 and a beta of 0.80.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, October 16th. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.49 by $0.04. Brown & Brown had a net margin of 14.66% and a return on equity of 10.99%. The company had revenue of $475.60 million for the quarter, compared to analyst estimates of $475.13 million. During the same period in the prior year, the company earned $0.50 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. equities research analysts anticipate that Brown & Brown, Inc. will post 1.87 EPS for the current year.

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Brown & Brown Profile

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.

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

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