Ferguson Wellman Capital Management Inc. Lowers Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Ferguson Wellman Capital Management Inc. cut its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 7.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 284,227 shares of the financial services provider's stock after selling 21,976 shares during the quarter. Ferguson Wellman Capital Management Inc. owned approximately 0.10% of Brown & Brown worth $29,446,000 as of its most recent SEC filing.

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Several other hedge funds have also recently modified their holdings of BRO. Crewe Advisors LLC raised its stake in shares of Brown & Brown by 330.4% during the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider's stock worth $27,000 after purchasing an additional 228 shares during the period. ST Germain D J Co. Inc. raised its position in Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider's stock worth $28,000 after acquiring an additional 200 shares during the period. Headlands Technologies LLC purchased a new position in Brown & Brown in the first quarter valued at about $32,000. Alaska Permanent Fund Corp bought a new position in shares of Brown & Brown during the 1st quarter valued at approximately $36,000. Finally, First PREMIER Bank purchased a new stake in shares of Brown & Brown during the 1st quarter worth approximately $40,000. Institutional investors own 71.01% of the company's stock.

Analyst Upgrades and Downgrades

BRO has been the subject of several research reports. Wells Fargo & Company increased their price objective on Brown & Brown from $112.00 to $114.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Barclays started coverage on Brown & Brown in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $108.00 price target on the stock. Keefe, Bruyette & Woods lifted their price objective on Brown & Brown from $86.00 to $92.00 and gave the stock an "underperform" rating in a report on Friday, July 26th. Royal Bank of Canada upped their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, July 24th. Finally, StockNews.com lowered shares of Brown & Brown from a "buy" rating to a "hold" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $105.67.

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Read Our Latest Stock Analysis on Brown & Brown

Insider Activity at Brown & Brown

In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the firm's stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the sale, the chief financial officer now owns 88,445 shares of the company's stock, valued at $8,872,802.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the completion of the sale, the chief financial officer now directly owns 88,445 shares in the company, valued at approximately $8,872,802.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. 16.43% of the stock is currently owned by company insiders.

Brown & Brown Trading Down 0.5 %

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Brown & Brown stock traded down $0.54 during mid-day trading on Friday, hitting $106.39. The company's stock had a trading volume of 4,537,563 shares, compared to its average volume of 1,317,795. The stock has a market cap of $30.35 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. The business has a 50 day moving average price of $103.57 and a 200-day moving average price of $94.43. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35. Brown & Brown, Inc. has a 12 month low of $66.73 and a 12 month high of $107.67.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company earned $0.68 EPS. 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 EPS for the current year.

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.

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