US Bancorp DE decreased its position in Brown & Brown, Inc. (NYSE:BRO) by 17.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,977 shares of the financial services provider’s stock after selling 3,938 shares during the period. US Bancorp DE’s holdings in Brown & Brown were worth $817,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BRO. Glen Harbor Capital Management LLC increased its stake in Brown & Brown by 2.3% in the first quarter. Glen Harbor Capital Management LLC now owns 3,632 shares of the financial services provider’s stock worth $152,000 after buying an additional 80 shares during the period. Tyers Asset Management LLC increased its stake in Brown & Brown by 2.3% in the first quarter. Tyers Asset Management LLC now owns 4,994 shares of the financial services provider’s stock worth $208,000 after buying an additional 110 shares during the period. Mosaic Family Wealth LLC increased its stake in Brown & Brown by 3.0% in the first quarter. Mosaic Family Wealth LLC now owns 3,973 shares of the financial services provider’s stock worth $166,000 after buying an additional 115 shares during the period. Flinton Capital Management LLC increased its stake in Brown & Brown by 2.3% in the first quarter. Flinton Capital Management LLC now owns 6,356 shares of the financial services provider’s stock worth $265,000 after buying an additional 140 shares during the period. Finally, Neuburgh Advisers LLC increased its stake in Brown & Brown by 2.3% in the first quarter. Neuburgh Advisers LLC now owns 7,718 shares of the financial services provider’s stock worth $322,000 after buying an additional 170 shares during the period. 72.61% of the stock is currently owned by institutional investors and hedge funds.

Shares of Brown & Brown, Inc. (NYSE:BRO) traded up 0.14% on Friday, reaching $43.54. 512,290 shares of the company’s stock were exchanged. Brown & Brown, Inc. has a 12 month low of $36.05 and a 12 month high of $45.77. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 23.28 and a beta of 0.78. The firm’s 50-day moving average price is $43.62 and its 200 day moving average price is $43.06.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, July 17th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. Brown & Brown had a net margin of 14.52% and a return on equity of 11.10%. The firm had revenue of $466.30 million for the quarter, compared to analyst estimates of $465.48 million. During the same quarter in the prior year, the business posted $0.47 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts predict that Brown & Brown, Inc. will post $1.84 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 9th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.24%. Brown & Brown’s payout ratio is presently 29.03%.

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A number of research firms recently weighed in on BRO. Royal Bank Of Canada reissued a “hold” rating and set a $44.00 target price on shares of Brown & Brown in a research report on Tuesday, June 13th. Zacks Investment Research cut shares of Brown & Brown from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. SunTrust Banks, Inc. restated a “hold” rating and set a $46.00 price target (up previously from $44.00) on shares of Brown & Brown in a research note on Friday, May 19th. BidaskClub upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Wells Fargo & Company restated a “hold” rating on shares of Brown & Brown in a research note on Tuesday, April 18th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $43.50.

In other Brown & Brown news, EVP Anthony T. Strianese sold 18,870 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $44.49, for a total transaction of $839,526.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 16.98% of the company’s stock.

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 its customers with non-investment insurance contracts, as well as other customized risk management products and services.

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

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