nVerses Capital LLC Grows Holdings in Brown & Brown, Inc. (NYSE:BRO)

nVerses Capital LLC lifted its stake in Brown & Brown, Inc. (NYSE:BRO) by 62.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,500 shares of the financial services provider’s stock after buying an additional 4,400 shares during the quarter. Brown & Brown makes up about 0.5% of nVerses Capital LLC’s investment portfolio, making the stock its 2nd largest position. nVerses Capital LLC’s holdings in Brown & Brown were worth $1,191,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hutchens & Kramer Investment Management Group LLC purchased a new stake in Brown & Brown in the 3rd quarter worth $205,000. Creative Planning lifted its position in shares of Brown & Brown by 0.4% in the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock worth $3,097,000 after buying an additional 112 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Brown & Brown during the third quarter valued at approximately $674,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Brown & Brown by 4.3% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 20,279 shares of the financial services provider’s stock valued at $2,101,000 after buying an additional 834 shares in the last quarter. Finally, Koshinski Asset Management Inc. increased its stake in Brown & Brown by 125.2% in the 3rd quarter. Koshinski Asset Management Inc. now owns 9,614 shares of the financial services provider’s stock worth $996,000 after acquiring an additional 5,344 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.3 %

Shares of NYSE BRO traded up $0.30 during midday trading on Thursday, hitting $106.63. The company’s stock had a trading volume of 137,948 shares, compared to its average volume of 1,295,605. Brown & Brown, Inc. has a 12-month low of $66.73 and a 12-month high of $107.67. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56. The firm has a market cap of $30.42 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 2.45 and a beta of 0.83. The business’s 50 day moving average is $103.32 and its two-hundred day moving average is $94.20.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.88 by $0.05. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company posted $0.68 EPS. Brown & Brown’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, equities research analysts expect that Brown & Brown, Inc. will post 3.69 EPS for the current year.

Analyst Ratings Changes

BRO has been the subject of a number of research reports. Argus assumed coverage on Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 target price for the company. Barclays began 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 objective for the company. Bank of America upped their target price on shares of Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Raymond James lifted their price target on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Jefferies Financial Group upped their price objective on Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $105.67.

Insider Buying and Selling

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO R. Andrew Watts sold 2,500 shares of the 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 transaction, the chief financial officer now owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $14,071,226.40. The disclosure for this sale can be found here. 17.02% of the stock is currently owned by insiders.

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.