US Bancorp DE Sells 5,109 Shares of Brown & Brown, Inc. (NYSE:BRO)

US Bancorp DE lowered its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 14.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,897 shares of the financial services provider’s stock after selling 5,109 shares during the period. US Bancorp DE’s holdings in Brown & Brown were worth $1,036,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Krane Funds Advisors LLC bought a new stake in Brown & Brown during the second quarter worth about $26,000. Signaturefd LLC increased its holdings in shares of Brown & Brown by 214.0% in the first quarter. Signaturefd LLC now owns 873 shares of the financial services provider’s stock worth $26,000 after buying an additional 595 shares during the period. Penserra Capital Management LLC purchased a new position in shares of Brown & Brown in the first quarter worth about $40,000. Ossiam purchased a new position in shares of Brown & Brown in the second quarter worth about $56,000. Finally, Quantamental Technologies LLC increased its holdings in shares of Brown & Brown by 15.6% in the second quarter. Quantamental Technologies LLC now owns 2,194 shares of the financial services provider’s stock worth $73,000 after buying an additional 296 shares during the period. 70.12% of the stock is owned by hedge funds and other institutional investors.

In other Brown & Brown news, Director H Palmer Proctor, Jr. purchased 5,000 shares of Brown & Brown stock in a transaction that occurred on Thursday, July 25th. The shares were bought at an average price of $35.96 per share, for a total transaction of $179,800.00. Following the acquisition, the director now directly owns 29,353 shares in the company, valued at $1,055,533.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 16.69% of the stock is owned by insiders.

BRO has been the topic of several analyst reports. Raymond James lifted their price objective on Brown & Brown from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. SunTrust Banks lifted their price objective on Brown & Brown to $40.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley lifted their price objective on Brown & Brown from $30.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, July 25th. Finally, ValuEngine downgraded Brown & Brown from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $32.33.

Shares of BRO traded up $0.17 during trading hours on Wednesday, hitting $36.13. The company had a trading volume of 41,005 shares, compared to its average volume of 1,172,532. The firm has a market cap of $10.12 billion, a P/E ratio of 29.38, a P/E/G ratio of 2.60 and a beta of 0.69. The stock’s 50 day moving average price is $36.19 and its 200 day moving average price is $33.14. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.45. Brown & Brown, Inc. has a 52-week low of $25.72 and a 52-week high of $37.20.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. Brown & Brown had a return on equity of 12.64% and a net margin of 17.28%. The firm had revenue of $575.20 million for the quarter, compared to the consensus estimate of $554.35 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The company’s quarterly revenue was up 21.6% on a year-over-year basis. On average, research analysts expect that Brown & Brown, Inc. will post 1.39 EPS for the current fiscal year.

Brown & Brown Profile

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

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