Resonant Capital Advisors LLC Sells 857 Shares of Brown & Brown, Inc. (NYSE:BRO)

Resonant Capital Advisors LLC reduced its holdings in Brown & Brown, Inc. (NYSE:BRO) by 8.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,285 shares of the financial services provider’s stock after selling 857 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Brown & Brown were worth $962,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ST Germain D J Co. Inc. grew its stake in Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Raymond James & Associates grew its position in Brown & Brown by 1.8% in the third quarter. Raymond James & Associates now owns 468,146 shares of the financial services provider’s stock worth $48,500,000 after acquiring an additional 8,484 shares in the last quarter. Blue Trust Inc. grew its position in Brown & Brown by 166.2% in the third quarter. Blue Trust Inc. now owns 1,464 shares of the financial services provider’s stock worth $152,000 after acquiring an additional 914 shares in the last quarter. Mogy Joel R Investment Counsel Inc. bought a new position in Brown & Brown in the third quarter valued at $471,000. Finally, Trust Point Inc. lifted its stake in Brown & Brown by 4.3% during the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Royal Bank of Canada increased their price objective on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Jefferies Financial Group raised their price target on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. UBS Group boosted their price objective on Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Argus assumed coverage on shares of Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and an average target price of $105.67.

Brown & Brown Stock Down 0.5 %

Shares of NYSE:BRO opened at $106.39 on Monday. The firm has a market capitalization of $30.35 billion, a P/E ratio of 32.74, a P/E/G ratio of 2.49 and a beta of 0.83. 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 stock has a 50 day moving average price of $103.57 and a 200-day moving average price of $94.56. Brown & Brown, Inc. has a 52-week low of $66.73 and a 52-week high of $107.67.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.05. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. As a group, equities research analysts anticipate that Brown & Brown, Inc. will post 3.69 EPS for the current fiscal year.

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.