Vontobel Holding Ltd. Cuts Holdings in Brown & Brown, Inc. (NYSE:BRO)

Vontobel Holding Ltd. lowered its holdings in Brown & Brown, Inc. (NYSE:BRO) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,505 shares of the financial services provider’s stock after selling 143 shares during the quarter. Vontobel Holding Ltd.’s holdings in Brown & Brown were worth $467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BRO. State Board of Administration of Florida Retirement System lifted its stake in 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 valued at $23,390,000 after acquiring an additional 6,613 shares during the period. Sei Investments Co. boosted its holdings in Brown & Brown by 12.7% in the first quarter. Sei Investments Co. now owns 276,090 shares of the financial services provider’s stock worth $24,169,000 after purchasing an additional 31,071 shares during the last quarter. Great Valley Advisor Group Inc. bought a new stake in Brown & Brown in the 2nd quarter worth approximately $1,512,000. DekaBank Deutsche Girozentrale raised its stake in Brown & Brown by 12.4% during the 1st 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 last quarter. Finally, Norden Group LLC lifted its holdings in shares of Brown & Brown by 2,650.9% during the 1st 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 owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on BRO. Wells Fargo & Company upped their price objective on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. 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. Argus initiated coverage on shares of Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective on the stock. Bank of America increased their price target on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, 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 report on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $105.67.

Insiders Place Their Bets

In other news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was 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 in the company, valued at approximately $8,872,802.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.02% of the stock is currently owned by corporate insiders.

Brown & Brown Stock Down 0.3 %

BRO opened at $106.05 on Tuesday. The stock has a market cap of $30.25 billion, a price-to-earnings ratio of 32.63, a price-to-earnings-growth 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 firm’s fifty day moving average is $103.70 and its 200 day moving average is $94.71. Brown & Brown, Inc. has a fifty-two week low of $66.73 and a fifty-two week high of $107.67.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. On average, sell-side analysts forecast that Brown & Brown, Inc. will post 3.69 earnings per share for the current fiscal year.

About Brown & Brown

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.