Brown & Brown, Inc. (BRO) Stake Increased by Flinton Capital Management LLC

Flinton Capital Management LLC lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 67.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,668 shares of the financial services provider’s stock after buying an additional 4,312 shares during the period. Flinton Capital Management LLC’s holdings in Brown & Brown were worth $459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Employees Retirement System of Texas acquired a new stake in shares of Brown & Brown during the 2nd quarter worth approximately $1,335,000. Veritable L.P. acquired a new stake in shares of Brown & Brown during the 2nd quarter worth approximately $299,000. OxFORD Asset Management LLP increased its holdings in shares of Brown & Brown by 110.7% during the 2nd quarter. OxFORD Asset Management LLP now owns 39,508 shares of the financial services provider’s stock worth $1,702,000 after buying an additional 20,758 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Brown & Brown by 31.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,430,400 shares of the financial services provider’s stock worth $61,607,000 after buying an additional 344,100 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of Brown & Brown by 3.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 88,423 shares of the financial services provider’s stock worth $3,808,000 after buying an additional 2,756 shares during the last quarter. Institutional investors and hedge funds own 72.18% of the company’s stock.

In other Brown & Brown news, EVP Anthony T. Strianese sold 18,870 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $44.49, for a total transaction of $839,526.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 16.98% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Brown & Brown, Inc. (BRO) Stake Increased by Flinton Capital Management LLC” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/11/brown-brown-inc-bro-stake-increased-by-flinton-capital-management-llc.html.

A number of analysts have recently issued reports on BRO shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $43.00 price target on shares of Brown & Brown in a report on Friday, August 18th. BidaskClub downgraded shares of Brown & Brown from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Citigroup Inc. raised their price target on shares of Brown & Brown from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 13th. Wells Fargo & Company restated a “hold” rating on shares of Brown & Brown in a report on Monday, July 17th. Finally, Zacks Investment Research downgraded shares of Brown & Brown from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. Brown & Brown has a consensus rating of “Hold” and a consensus price target of $43.43.

Shares of Brown & Brown, Inc. (NYSE BRO) opened at 48.94 on Wednesday. Brown & Brown, Inc. has a 12-month low of $36.05 and a 12-month high of $49.13. The firm has a market cap of $6.85 billion, a P/E ratio of 26.17 and a beta of 0.79. The company has a 50-day moving average of $46.79 and a 200 day moving average of $44.06.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, July 17th. The financial services provider reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. The company had revenue of $466.30 million for the quarter, compared to the consensus estimate of $465.48 million. Brown & Brown had a net margin of 14.52% and a return on equity of 11.10%. Brown & Brown’s revenue was up 4.4% on a year-over-year basis. During the same qu

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Employees Retirement System of Texas acquired a new stake in shares of Brown & Brown during the 2nd quarter worth approximately $1,335,000. Veritable L.P. acquired a new stake in shares of Brown & Brown during the 2nd quarter worth approximately $299,000. OxFORD Asset Management LLP increased its holdings in shares of Brown & Brown by 110.7% during the 2nd quarter. OxFORD Asset Management LLP now owns 39,508 shares of the financial services provider’s stock worth $1,702,000 after buying an additional 20,758 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Brown & Brown by 31.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,430,400 shares of the financial services provider’s stock worth $61,607,000 after buying an additional 344,100 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of Brown & Brown by 3.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 88,423 shares of the financial services provider’s stock worth $3,808,000 after buying an additional 2,756 shares during the last quarter. Institutional investors and hedge funds own 72.18% of the company’s stock.

In other Brown & Brown news, EVP Anthony T. Strianese sold 18,870 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $44.49, for a total transaction of $839,526.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 16.98% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Brown & Brown, Inc. (BRO) Stake Increased by Flinton Capital Management LLC” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/11/brown-brown-inc-bro-stake-increased-by-flinton-capital-management-llc.html.

A number of analysts have recently issued reports on BRO shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $43.00 price target on shares of Brown & Brown in a report on Friday, August 18th. BidaskClub downgraded shares of Brown & Brown from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Citigroup Inc. raised their price target on shares of Brown & Brown from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 13th. Wells Fargo & Company restated a “hold” rating on shares of Brown & Brown in a report on Monday, July 17th. Finally, Zacks Investment Research downgraded shares of Brown & Brown from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. Brown & Brown has a consensus rating of “Hold” and a consensus price target of $43.43.

Shares of Brown & Brown, Inc. (NYSE BRO) opened at 48.94 on Wednesday. Brown & Brown, Inc. has a 12-month low of $36.05 and a 12-month high of $49.13. The firm has a market cap of $6.85 billion, a P/E ratio of 26.17 and a beta of 0.79. The company has a 50-day moving average of $46.79 and a 200 day moving average of $44.06.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, July 17th. The financial services provider reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. The company had revenue of $466.30 million for the quarter, compared to the consensus estimate of $465.48 million. Brown & Brown had a net margin of 14.52% and a return on equity of 11.10%. Brown & Brown’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 earnings per share. Equities research analysts anticipate that Brown & Brown, Inc. will post $1.85 earnings per share for the current fiscal year.

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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