Legal & General Group Plc raised its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 6.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 527,551 shares of the financial services provider’s stock after buying an additional 30,107 shares during the period. Legal & General Group Plc owned approximately 0.38% of Brown & Brown worth $22,722,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Suntrust Banks Inc. boosted its stake in shares of Brown & Brown by 8.3% in the first quarter. Suntrust Banks Inc. now owns 31,240 shares of the financial services provider’s stock worth $1,302,000 after buying an additional 2,392 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Brown & Brown by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 1,313,728 shares of the financial services provider’s stock worth $54,810,000 after buying an additional 56,326 shares during the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Brown & Brown during the first quarter worth approximately $634,000. Flinton Capital Management LLC boosted its stake in shares of 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 last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Brown & Brown by 81.4% in the first quarter. First Trust Advisors LP now owns 287,261 shares of the financial services provider’s stock worth $11,985,000 after buying an additional 128,885 shares during the last quarter. Institutional investors own 72.18% of the company’s stock.

Shares of Brown & Brown, Inc. (NYSE:BRO) opened at 44.96 on Friday. The firm has a 50-day moving average of $44.02 and a 200 day moving average of $43.23. The stock has a market capitalization of $6.29 billion, a PE ratio of 24.04 and a beta of 0.78. Brown & Brown, Inc. has a 1-year low of $36.04 and a 1-year high of $45.77.

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, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $466.30 million during the quarter, compared to analyst estimates of $465.48 million. Brown & Brown had a net margin of 14.52% and a return on equity of 11.10%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 earnings per share. Analysts predict that Brown & Brown, Inc. will post $1.85 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Investors of record on Wednesday, August 9th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.54 annualized dividend and a yield of 1.20%. Brown & Brown’s dividend payout ratio (DPR) is 29.03%.

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A number of brokerages recently commented on BRO. Zacks Investment Research cut 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 equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $43.43.

In other Brown & Brown news, EVP Anthony T. Strianese sold 18,870 shares of Brown & Brown 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 filing with the SEC, which is accessible through this link. 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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