New York State Common Retirement Fund increased its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 563,100 shares of the financial services provider’s stock after buying an additional 22,701 shares during the quarter. New York State Common Retirement Fund owned 0.40% of Brown & Brown worth $27,136,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BRO. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 468,116 shares in the last quarter. BlackRock Inc. raised its stake in shares of Brown & Brown by 2.2% in the second quarter. BlackRock Inc. now owns 9,704,740 shares of the financial services provider’s stock valued at $417,982,000 after acquiring an additional 213,014 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of Brown & Brown by 1.8% in the third quarter. First Eagle Investment Management LLC now owns 7,263,759 shares of the financial services provider’s stock valued at $350,041,000 after acquiring an additional 130,278 shares during the last quarter. State Street Corp raised its stake in shares of Brown & Brown by 1.7% in the second quarter. State Street Corp now owns 5,807,711 shares of the financial services provider’s stock valued at $250,140,000 after acquiring an additional 98,674 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Brown & Brown by 7.3% in 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 acquiring an additional 388,294 shares during the last quarter. 71.96% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown, Inc. (NYSE:BRO) opened at $51.93 on Monday. The firm has a market cap of $7,239.23, a price-to-earnings ratio of 27.77, a P/E/G ratio of 2.77 and a beta of 0.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.97 and a quick ratio of 0.97. Brown & Brown, Inc. has a one year low of $41.10 and a one year high of $52.42.

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

Several research analysts recently weighed in on BRO shares. SunTrust Banks upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. Zacks Investment Research upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Wednesday, November 1st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $43.00 price objective on shares of Brown & Brown in a research report on Friday, August 18th. BidaskClub upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Brown & Brown in a research report on Tuesday, August 15th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $46.11.

In other news, insider Michael Waldkirch sold 75,000 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $0.75, for a total transaction of $56,250.00. Also, Director Richard Silas sold 50,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $0.83, for a total transaction of $41,500.00. Over the last 90 days, insiders have sold 163,000 shares of company stock valued at $126,250. Company insiders own 16.98% of the company’s stock.

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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.

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

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