CENTRAL TRUST Co decreased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 3.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,757 shares of the financial services provider’s stock after selling 700 shares during the period. CENTRAL TRUST Co’s holdings in Brown & Brown were worth $600,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in BRO. Bruderman Asset Management LLC acquired a new position in shares of Brown & Brown in the 2nd quarter valued at approximately $117,000. Virtu Financial LLC acquired a new position in shares of Brown & Brown in the 3rd quarter valued at approximately $215,000. PEAK6 Investments LLC acquired a new position in shares of Brown & Brown in the 3rd quarter valued at approximately $217,000. SRS Capital Advisors Inc. acquired a new position in shares of Brown & Brown in the 3rd quarter valued at approximately $221,000. Finally, Trexquant Investment LP acquired a new position in shares of Brown & Brown in the 3rd quarter valued at approximately $350,000. 71.56% of the stock is owned by institutional investors and hedge funds.
In other Brown & Brown news, EVP Anthony T. Strianese sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $28.66, for a total transaction of $57,320.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 17.12% of the company’s stock.
BRO opened at $27.99 on Friday. Brown & Brown, Inc. has a fifty-two week low of $24.34 and a fifty-two week high of $31.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 2.02 and a beta of 0.74.
Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 22nd. The financial services provider reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.04. Brown & Brown had a net margin of 23.15% and a return on equity of 12.36%. The firm had revenue of $530.90 million for the quarter, compared to analyst estimates of $508.82 million. During the same period in the previous year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts forecast that Brown & Brown, Inc. will post 1.23 EPS for the current fiscal year.
A number of research firms recently issued reports on BRO. ValuEngine upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Monday, December 31st. Barclays upped their price objective on shares of Brown & Brown from $23.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, November 12th. Wells Fargo & Co reiterated a “hold” rating and set a $28.00 price objective on shares of Brown & Brown in a research report on Monday, October 22nd. Finally, Citigroup set a $27.00 price objective on shares of Brown & Brown and gave the stock a “sell” rating in a research report on Wednesday, September 19th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $29.00.
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Brown & Brown Profile
Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.
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