Claro Advisors LLC Has $2.56 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

Claro Advisors LLC lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 147.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,738 shares of the financial services provider’s stock after purchasing an additional 14,736 shares during the period. Claro Advisors LLC’s holdings in Brown & Brown were worth $2,563,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of BRO. American International Group Inc. grew its holdings in Brown & Brown by 1.3% during the 4th quarter. American International Group Inc. now owns 64,959 shares of the financial services provider’s stock valued at $4,619,000 after buying an additional 831 shares in the last quarter. HighPoint Advisor Group LLC bought a new stake in shares of Brown & Brown during the 4th quarter valued at about $288,000. Nomura Holdings Inc. grew its holdings in shares of Brown & Brown by 1.6% during the 4th quarter. Nomura Holdings Inc. now owns 17,793 shares of the financial services provider’s stock worth $1,265,000 after acquiring an additional 282 shares during the period. CWM LLC grew its holdings in Brown & Brown by 16.4% in the first quarter. CWM LLC now owns 6,317 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 889 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Brown & Brown by 69.8% in the first quarter. GAMMA Investing LLC now owns 4,038 shares of the financial services provider’s stock worth $353,000 after acquiring an additional 1,660 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Brown & Brown stock traded down $0.20 during trading hours on Friday, hitting $106.73. 147,525 shares of the company traded hands, compared to its average volume of 1,296,062. Brown & Brown, Inc. has a 1-year low of $66.73 and a 1-year high of $107.67. The firm has a market cap of $30.44 billion, a P/E ratio of 32.90, a P/E/G ratio of 2.45 and a beta of 0.83. The firm’s 50-day simple moving average is $103.45 and its two-hundred day simple moving average is $94.29. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share 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 during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the business earned $0.68 earnings per share. Brown & Brown’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, analysts forecast that Brown & Brown, Inc. will post 3.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO R. Andrew Watts sold 2,500 shares of the business’s 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 in the company, valued at approximately $8,872,802.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BRO. Bank of America increased their target price on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Barclays assumed coverage on shares of Brown & Brown in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 target price for the company. Royal Bank of Canada upped their price objective on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Jefferies Financial Group increased their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $105.67.

Brown & Brown Company Profile

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.