Brown & Brown, Inc. (BRO) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in Brown & Brown, Inc. (NYSE:BRO) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,100 shares of the financial services provider’s stock after selling 8,000 shares during the period. California Public Employees Retirement System’s holdings in Brown & Brown were worth $13,772,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of BRO. Glen Harbor Capital Management LLC raised its position 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 in the last quarter. Mosaic Family Wealth LLC raised its position 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 in the last quarter. Seven Eight Capital LP acquired a new position in Brown & Brown during the fourth quarter worth approximately $188,000. Pzena Investment Management LLC acquired a new position in Brown & Brown during the first quarter worth approximately $206,000. Finally, Tyers Asset Management LLC raised its position 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 in the last quarter. 72.53% of the stock is currently owned by institutional investors.

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

Shares of Brown & Brown, Inc. (NYSE BRO) traded down 0.6366% during trading on Tuesday, hitting $43.7199. The stock had a trading volume of 52,812 shares. Brown & Brown, Inc. has a one year low of $34.27 and a one year high of $45.77. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 23.3796 and a beta of 0.79. The stock has a 50 day moving average price of $43.09 and a 200-day moving average price of $43.27.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, April 17th. The financial services provider reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The firm had revenue of $465.10 million for the quarter, compared to the consensus estimate of $443.76 million. Brown & Brown had a return on equity of 11.29% and a net margin of 14.68%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. On average, equities research analysts predict that Brown & Brown, Inc. will post $1.85 earnings per share for the current year.

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Several equities analysts have recently issued reports on BRO shares. Zacks Investment Research raised Brown & Brown from a “sell” rating to a “hold” rating in a research note on Tuesday, March 14th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Brown & Brown in a research note on Monday, February 27th. BidaskClub raised Brown & Brown from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $44.00 price target on shares of Brown & Brown in a research note on Tuesday, June 13th. Finally, SunTrust Banks, Inc. reaffirmed 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. Brown & Brown currently has a consensus rating of “Hold” and an average price target of $40.89.

In other Brown & Brown news, EVP Anthony T. Strianese sold 24,562 shares of Brown & Brown stock in a transaction dated Friday, April 21st. The stock was sold at an average price of $42.24, for a total transaction of $1,037,498.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 16.98% of the stock is currently owned by insiders.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “BRO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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