Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Whittier Trust Co.

Whittier Trust Co. increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 3.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 180,784 shares of the financial services provider’s stock after buying an additional 6,318 shares during the quarter. Whittier Trust Co.’s holdings in Brown & Brown were worth $18,729,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its position in shares of Brown & Brown by 2.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 267,190 shares of the financial services provider’s stock worth $23,390,000 after purchasing an additional 6,613 shares during the last quarter. Sei Investments Co. grew its stake in Brown & Brown by 12.7% in the 1st quarter. Sei Investments Co. now owns 276,090 shares of the financial services provider’s stock worth $24,169,000 after acquiring an additional 31,071 shares during the period. Great Valley Advisor Group Inc. purchased a new stake in Brown & Brown in the 2nd quarter worth approximately $1,512,000. DekaBank Deutsche Girozentrale grew its stake in Brown & Brown by 12.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider’s stock worth $21,855,000 after acquiring an additional 27,879 shares during the period. Finally, Norden Group LLC grew its stake in Brown & Brown by 2,650.9% in the 1st quarter. Norden Group LLC now owns 99,856 shares of the financial services provider’s stock worth $8,741,000 after acquiring an additional 96,226 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on BRO shares. Wells Fargo & Company boosted their price objective on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Bank of America boosted their price objective on shares of Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Raymond James boosted their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Barclays initiated coverage on shares of Brown & Brown in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $105.67.

Brown & Brown Stock Performance

NYSE BRO traded down $0.40 on Monday, hitting $105.99. The stock had a trading volume of 436,186 shares, compared to its average volume of 1,313,452. The company’s 50-day moving average is $103.57 and its two-hundred day moving average is $94.56. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The stock has a market cap of $30.23 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 2.49 and a beta of 0.83. Brown & Brown, Inc. has a one year low of $66.73 and a one year high of $107.67.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.05. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The business’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. On average, analysts expect that Brown & Brown, Inc. will post 3.69 earnings per share for the current year.

Insider Activity

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the completion of the sale, the chief financial officer now owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.02% of the company’s stock.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.