Swiss National Bank Boosts Holdings in Brown & Brown, Inc. (NYSE:BRO)

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Swiss National Bank grew its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 442,400 shares of the financial services provider’s stock after acquiring an additional 4,700 shares during the quarter. Swiss National Bank’s holdings in Brown & Brown were worth $14,820,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Nisa Investment Advisors LLC raised its stake in shares of Brown & Brown by 0.3% during the second quarter. Nisa Investment Advisors LLC now owns 97,300 shares of the financial services provider’s stock worth $3,260,000 after acquiring an additional 300 shares in the last quarter. Oakbrook Investments LLC raised its stake in shares of Brown & Brown by 2.3% during the second quarter. Oakbrook Investments LLC now owns 13,150 shares of the financial services provider’s stock worth $441,000 after acquiring an additional 300 shares in the last quarter. 6 Meridian raised its stake in shares of Brown & Brown by 1.8% during the second quarter. 6 Meridian now owns 17,127 shares of the financial services provider’s stock worth $574,000 after acquiring an additional 302 shares in the last quarter. First Hawaiian Bank raised its stake in shares of Brown & Brown by 1.4% during the second quarter. First Hawaiian Bank now owns 23,489 shares of the financial services provider’s stock worth $787,000 after acquiring an additional 332 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Brown & Brown by 42.8% during the second quarter. Signaturefd LLC now owns 1,247 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 374 shares in the last quarter. 70.24% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on the stock. Raymond James lifted their price target on shares of Brown & Brown from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. SunTrust Banks lifted their target price on shares of Brown & Brown to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. ValuEngine downgraded shares of Brown & Brown from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley lifted their target price on shares of Brown & Brown from $30.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $31.57.

In related news, Director H Palmer Proctor, Jr. purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were acquired at an average price of $35.96 per share, for a total transaction of $179,800.00. Following the completion of the acquisition, the director now directly owns 29,353 shares in the company, valued at approximately $1,055,533.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 16.69% of the company’s stock.

Shares of NYSE BRO opened at $35.42 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.45. Brown & Brown, Inc. has a 52 week low of $25.72 and a 52 week high of $36.91. The firm’s fifty day moving average is $35.67 and its 200 day moving average is $32.02. The company has a market cap of $10.14 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 2.58 and a beta of 0.72.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, July 22nd. The financial services provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. Brown & Brown had a net margin of 17.28% and a return on equity of 12.64%. The company had revenue of $575.20 million for the quarter, compared to the consensus estimate of $554.35 million. During the same period in the previous year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. Equities research analysts anticipate that Brown & Brown, Inc. will post 1.39 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Tuesday, August 6th. Brown & Brown’s dividend payout ratio (DPR) is currently 26.02%.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.

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Want to see what other hedge funds are holding BRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brown & Brown, Inc. (NYSE:BRO).

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

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