Legacy Financial Strategies LLC Sells 199 Shares of Brown & Brown, Inc. (NYSE:BRO)

Legacy Financial Strategies LLC reduced its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.5% during the third quarter, HoldingsChannel.com reports. The fund owned 43,626 shares of the financial services provider’s stock after selling 199 shares during the quarter. Brown & Brown makes up approximately 1.0% of Legacy Financial Strategies LLC’s investment portfolio, making the stock its 15th largest position. Legacy Financial Strategies LLC’s holdings in Brown & Brown were worth $4,520,000 at the end of the most recent quarter.

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

Insider Transactions at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the completion of the sale, the chief financial officer now directly 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. Company insiders own 16.43% of the company’s stock.

Brown & Brown Price Performance

Brown & Brown stock traded down $0.54 during midday trading on Friday, hitting $106.39. 4,537,563 shares of the company’s stock were exchanged, compared to its average volume of 1,317,795. The stock has a 50-day moving average price of $103.57 and a two-hundred day moving average price of $94.43. Brown & Brown, Inc. has a 52-week low of $66.73 and a 52-week high of $107.67. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. The company has a market cap of $30.35 billion, a P/E ratio of 30.57, a PEG ratio of 2.49 and a beta of 0.83.

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, topping analysts’ consensus estimates of $0.88 by $0.05. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the business earned $0.68 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities research analysts forecast that Brown & Brown, Inc. will post 3.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BRO has been the topic of several research reports. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research note on Wednesday. Keefe, Bruyette & Woods lifted their price target on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. Jefferies Financial Group lifted their price target on Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Raymond James lifted their price target on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company lifted their price target on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $105.67.

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.