Pacer Advisors Inc. Purchases 11,375 Shares of Brown & Brown, Inc. (BRO)

Pacer Advisors Inc. raised its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 15.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,905 shares of the financial services provider’s stock after acquiring an additional 11,375 shares during the period. Pacer Advisors Inc.’s holdings in Brown & Brown were worth $2,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of BRO. Select Equity Group L.P. raised its holdings in shares of Brown & Brown by 23.8% during the 2nd quarter. Select Equity Group L.P. now owns 5,591,244 shares of the financial services provider’s stock worth $155,045,000 after acquiring an additional 1,075,295 shares in the last quarter. FMR LLC raised its holdings in shares of Brown & Brown by 66.4% during the 2nd quarter. FMR LLC now owns 2,688,501 shares of the financial services provider’s stock worth $74,552,000 after acquiring an additional 1,072,679 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Brown & Brown by 74.0% during the 2nd quarter. Northern Trust Corp now owns 1,765,528 shares of the financial services provider’s stock worth $48,959,000 after acquiring an additional 750,573 shares in the last quarter. Citadel Advisors LLC raised its holdings in shares of Brown & Brown by 483.9% during the 2nd quarter. Citadel Advisors LLC now owns 873,271 shares of the financial services provider’s stock worth $24,215,000 after acquiring an additional 723,703 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Brown & Brown by 10.5% during the 3rd quarter. Victory Capital Management Inc. now owns 6,419,474 shares of the financial services provider’s stock worth $189,824,000 after acquiring an additional 610,726 shares in the last quarter. 71.58% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently issued reports on the company. Citigroup set a $27.00 price objective on Brown & Brown and gave the stock a “sell” rating in a report on Wednesday, September 19th. Zacks Investment Research raised Brown & Brown from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Tuesday, September 25th. Wells Fargo & Co reissued a “hold” rating and set a $28.00 target price on shares of Brown & Brown in a research report on Monday, October 22nd. Finally, Barclays boosted their target price on Brown & Brown from $23.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, November 12th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Brown & Brown has an average rating of “Hold” and an average target price of $29.45.

NYSE BRO opened at $27.62 on Friday. The company has a market cap of $7.71 billion, a PE ratio of 28.77, a P/E/G ratio of 2.24 and a beta of 0.75. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.96 and a current ratio of 0.96. Brown & Brown, Inc. has a fifty-two week low of $24.34 and a fifty-two week high of $31.55.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, October 22nd. The financial services provider reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. The firm had revenue of $530.90 million for the quarter, compared to the consensus estimate of $508.82 million. Brown & Brown had a return on equity of 12.36% and a net margin of 23.15%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS. On average, equities analysts expect that Brown & Brown, Inc. will post 1.23 earnings per share for the current year.

In other news, EVP Anthony T. Strianese sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $28.66, for a total transaction of $57,320.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 17.12% of the company’s stock.

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Brown & Brown Company Profile

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.

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

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