PNC Financial Services Group Inc. grew its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 27.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,499 shares of the financial services provider’s stock after buying an additional 7,119 shares during the period. PNC Financial Services Group Inc.’s holdings in Brown & Brown were worth $1,443,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. IFP Advisors Inc boosted its holdings in shares of Brown & Brown by 9.8% during the 2nd quarter. IFP Advisors Inc now owns 2,823 shares of the financial services provider’s stock valued at $122,000 after buying an additional 251 shares in the last quarter. Mosaic Family Wealth LLC boosted its holdings in shares of 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 buying an additional 235 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Brown & Brown by 10.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,322 shares of the financial services provider’s stock valued at $186,000 after buying an additional 405 shares in the last quarter. Hartford Investment Management Co. bought a new stake in shares of Brown & Brown during the 2nd quarter valued at $211,000. Finally, Pzena Investment Management LLC boosted its holdings in shares of 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 buying an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 72.18% of the company’s stock.

In other Brown & Brown news, EVP Anthony T. Strianese sold 10,000 shares of Brown & Brown stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $44.59, for a total value of $445,900.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 16.98% of the stock is owned by insiders.

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Brown & Brown, Inc. (NYSE BRO) opened at 48.87 on Friday. The company has a 50-day moving average of $46.34 and a 200-day moving average of $43.91. The company has a market cap of $6.84 billion, a PE ratio of 26.13 and a beta of 0.79. Brown & Brown, Inc. has a 52 week low of $36.05 and a 52 week high of $48.97.

Brown & Brown (NYSE:BRO) last posted 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. Brown & Brown had a return on equity of 11.10% and a net margin of 14.52%. The company had revenue of $466.30 million for the quarter, compared to analyst estimates of $465.48 million. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities analysts expect that Brown & Brown, Inc. will post $1.85 EPS for the current year.

A number of brokerages have recently commented on BRO. Zacks Investment Research cut shares of Brown & Brown from a “hold” rating to a “sell” rating in a report on Monday, July 31st. BidaskClub upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Wells Fargo & Company restated a “hold” rating on shares of Brown & Brown in a report on Tuesday, August 15th. Royal Bank Of Canada restated a “hold” rating and set a $44.00 target price on shares of Brown & Brown in a report on Tuesday, June 13th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $43.00 target price on shares of Brown & Brown in a report on Friday, August 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Brown & Brown presently has a consensus rating of “Hold” and a consensus price target 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.

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

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