Teachers Advisors LLC decreased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 10.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,027 shares of the financial services provider’s stock after selling 20,120 shares during the quarter. Teachers Advisors LLC owned about 0.12% of Brown & Brown worth $7,323,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Teacher Retirement System of Texas increased its stake in Brown & Brown by 1.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 9,529 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 105 shares in the last quarter. World Asset Management Inc increased its stake in Brown & Brown by 1.7% during the 2nd quarter. World Asset Management Inc now owns 7,326 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 120 shares in the last quarter. Pzena Investment Management LLC increased its stake in Brown & Brown by 2.8% during the 2nd quarter. Pzena Investment Management LLC now owns 5,087 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 138 shares in the last quarter. State of Wisconsin Investment Board increased its stake in Brown & Brown by 0.6% during the 2nd quarter. State of Wisconsin Investment Board now owns 23,381 shares of the financial services provider’s stock valued at $1,007,000 after purchasing an additional 140 shares in the last quarter. Finally, Mosaic Family Wealth LLC increased its stake in Brown & Brown by 5.9% during the 2nd quarter. Mosaic Family Wealth LLC now owns 4,208 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 235 shares in the last quarter. Institutional investors and hedge funds own 72.18% of the company’s stock.

In other Brown & Brown news, EVP Anthony T. Strianese sold 18,870 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $44.49, for a total value of $839,526.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 16.98% of the company’s stock.

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Shares of Brown & Brown, Inc. (NYSE:BRO) opened at 48.73 on Friday. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 26.06 and a beta of 0.79. The stock has a 50 day moving average of $46.49 and a 200-day moving average of $43.94. Brown & Brown, Inc. has a 1-year low of $36.05 and a 1-year high of $49.12.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, July 17th. The financial services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $466.30 million for the quarter, compared to analysts’ expectations of $465.48 million. Brown & Brown had a net margin of 14.52% and a return on equity of 11.10%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS. Equities analysts anticipate that Brown & Brown, Inc. will post $1.85 EPS for the current fiscal year.

A number of brokerages have issued reports on BRO. Zacks Investment Research lowered shares of Brown & Brown from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. BidaskClub upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Wells Fargo & Company restated a “hold” rating on shares of Brown & Brown in a research note on Tuesday, August 15th. Royal Bank Of Canada restated a “hold” rating and set a $44.00 price target on shares of Brown & Brown in a research note on Tuesday, June 13th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $43.00 price target on shares of Brown & Brown in a research note on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $43.43.

About Brown & Brown

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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