GSA Capital Partners LLP Buys 4,131 Shares of Brown & Brown, Inc. (BRO)

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GSA Capital Partners LLP increased its stake in Brown & Brown, Inc. (NYSE:BRO) by 71.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,911 shares of the financial services provider’s stock after acquiring an additional 4,131 shares during the period. GSA Capital Partners LLP’s holdings in Brown & Brown were worth $252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BRO. BlackRock Inc. grew its position in Brown & Brown by 104.9% in the first quarter. BlackRock Inc. now owns 20,032,804 shares of the financial services provider’s stock worth $509,637,000 after acquiring an additional 10,254,736 shares in the last quarter. First Eagle Investment Management LLC grew its position in Brown & Brown by 98.8% in the first quarter. First Eagle Investment Management LLC now owns 14,117,442 shares of the financial services provider’s stock worth $360,136,000 after acquiring an additional 7,014,663 shares in the last quarter. Wells Fargo & Company MN grew its position in Brown & Brown by 112.7% in the first quarter. Wells Fargo & Company MN now owns 11,850,475 shares of the financial services provider’s stock worth $301,476,000 after acquiring an additional 6,279,191 shares in the last quarter. Victory Capital Management Inc. grew its position in Brown & Brown by 93.6% in the first quarter. Victory Capital Management Inc. now owns 6,088,711 shares of the financial services provider’s stock worth $154,897,000 after acquiring an additional 2,944,288 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in Brown & Brown by 95.8% in the first quarter. Schroder Investment Management Group now owns 3,081,053 shares of the financial services provider’s stock worth $78,382,000 after acquiring an additional 1,507,086 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Several research analysts recently commented on BRO shares. Morgan Stanley lifted their price target on Brown & Brown from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 29th. Zacks Investment Research lowered Brown & Brown from a “buy” rating to a “hold” rating in a research report on Wednesday, April 4th. ValuEngine lowered Brown & Brown from a “buy” rating to a “hold” rating in a research report on Thursday, March 29th. Wells Fargo & Co set a $26.00 price target on Brown & Brown and gave the stock a “hold” rating in a research report on Monday, April 23rd. Finally, Barclays reiterated a “sell” rating and issued a $23.00 price target (down previously from $46.00) on shares of Brown & Brown in a research report on Friday, March 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $26.65.

Shares of Brown & Brown opened at $27.73 on Friday, MarketBeat.com reports. Brown & Brown, Inc. has a 1 year low of $21.15 and a 1 year high of $28.64. The company has a market cap of $7.59 billion, a price-to-earnings ratio of 28.89, a price-to-earnings-growth ratio of 2.24 and a beta of 0.69. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.31.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, April 23rd. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.04. Brown & Brown had a return on equity of 12.04% and a net margin of 21.92%. The business had revenue of $501.50 million during the quarter, compared to analyst estimates of $491.00 million. During the same quarter in the previous year, the business earned $0.22 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. analysts anticipate that Brown & Brown, Inc. will post 1.23 EPS for the current fiscal year.

About Brown & Brown

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.

Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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