First Merchants Corp raised its position in Brown & Brown Inc. (NYSE:BRO) by 40.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,217 shares of the company’s stock after buying an additional 21,233 shares during the period. First Merchants Corp owned 0.05% of Brown & Brown worth $2,781,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Findlay Park Partners LLP raised its stake in shares of Brown & Brown by 73.7% in the first quarter. Findlay Park Partners LLP now owns 4,033,036 shares of the company’s stock valued at $144,383,000 after buying an additional 1,711,741 shares in the last quarter. Clarkston Capital Partners LLC raised its stake in shares of Brown & Brown by 9.9% in the second quarter. Clarkston Capital Partners LLC now owns 2,153,130 shares of the company’s stock valued at $80,678,000 after buying an additional 194,275 shares in the last quarter. Norges Bank purchased a new stake in shares of Brown & Brown during the fourth quarter valued at about $42,506,000. Hermes Investment Management Ltd. raised its stake in shares of Brown & Brown by 22.5% in the second quarter. Hermes Investment Management Ltd. now owns 878,196 shares of the company’s stock valued at $32,906,000 after buying an additional 161,314 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Brown & Brown by 4.8% in the first quarter. Geode Capital Management LLC now owns 721,236 shares of the company’s stock valued at $25,820,000 after buying an additional 32,778 shares in the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

Shares of Brown & Brown Inc. (NYSE:BRO) traded up 0.19% on Tuesday, reaching $37.22. The company’s stock had a trading volume of 540,896 shares. The company’s 50 day moving average is $36.99 and its 200-day moving average is $36.00. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 20.79 and a beta of 1.04. Brown & Brown Inc. has a 1-year low of $28.41 and a 1-year high of $38.11.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.05. Brown & Brown had a return on equity of 11.68% and a net margin of 14.87%. The company earned $446.50 million during the quarter, compared to the consensus estimate of $439.70 million. During the same period in the prior year, the company earned $0.43 earnings per share. Equities research analysts expect that Brown & Brown Inc. will post $1.81 EPS for the current year.

Several equities research analysts have recently issued reports on the company. BMO Capital Markets set a $38.00 price target on Brown & Brown and gave the company a “hold” rating in a report on Wednesday, July 20th. RBC Capital Markets reiterated a “sector perform” rating and set a $37.00 price target (up from $35.00) on shares of Brown & Brown in a report on Wednesday, July 20th. Royal Bank Of Canada lifted their price target on Brown & Brown from $35.00 to $37.00 and gave the company a “sector perform” rating in a report on Wednesday, July 20th. Compass Point lifted their price target on Brown & Brown from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, July 20th. Finally, Barclays PLC lifted their price target on Brown & Brown from $30.00 to $31.00 and gave the company an “underweight” rating in a report on Tuesday, July 19th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $35.00.

In other news, EVP Richard Freebourn sold 27,569 shares of the company’s stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $35.69, for a total transaction of $983,937.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Anthony T. Strianese sold 1,444 shares of the company’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $37.02, for a total value of $53,456.88. The disclosure for this sale can be found here. 17.49% of the stock is owned by company insiders.

Brown & Brown Company 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 customers with non-investment insurance contracts, as well as other targeted, customized risk management products and services.

5 Day Chart for NYSE:BRO

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