Raymond James Financial Services Advisors Inc. boosted its position in Brown & Brown, Inc. (NYSE:BRO) by 125.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,182 shares of the financial services provider’s stock after purchasing an additional 16,775 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Brown & Brown were worth $891,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Quantamental Technologies LLC bought a new stake in Brown & Brown in the 4th quarter valued at about $42,000. Quadrant Capital Group LLC raised its position in shares of Brown & Brown by 1,408.7% during the 1st quarter. Quadrant Capital Group LLC now owns 1,901 shares of the financial services provider’s stock worth $54,000 after buying an additional 1,775 shares in the last quarter. IFP Advisors Inc raised its position in shares of Brown & Brown by 57.5% during the 4th quarter. IFP Advisors Inc now owns 2,249 shares of the financial services provider’s stock worth $61,000 after buying an additional 821 shares in the last quarter. Capital Investment Advisory Services LLC bought a new stake in shares of Brown & Brown during the 4th quarter worth about $84,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Brown & Brown during the 4th quarter worth about $99,000. Hedge funds and other institutional investors own 70.93% of the company’s stock.
BRO has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Wells Fargo & Co reiterated a “hold” rating and issued a $28.00 target price on shares of Brown & Brown in a report on Sunday, April 21st. Finally, SunTrust Banks boosted their target price on shares of Brown & Brown to $36.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $29.38.
Brown & Brown (NYSE:BRO) last released its earnings results on Monday, April 22nd. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.05. The business had revenue of $617.50 million for the quarter, compared to the consensus estimate of $600.51 million. Brown & Brown had a net margin of 17.23% and a return on equity of 12.47%. The firm’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. Research analysts anticipate that Brown & Brown, Inc. will post 1.35 EPS for the current year.
About Brown & Brown
Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.
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