Nicholas Company Inc. decreased its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,585 shares of the financial services provider’s stock after selling 535 shares during the period. Nicholas Company Inc. owned 0.08% of Brown & Brown worth $4,849,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of BRO. Teacher Retirement System of Texas increased its stake in Brown & Brown by 1.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 9,529 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 105 shares in the last quarter. World Asset Management Inc increased its stake in Brown & Brown by 1.7% during the 2nd quarter. World Asset Management Inc now owns 7,326 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 120 shares in the last quarter. Pzena Investment Management LLC increased its stake in Brown & Brown by 2.8% during the 2nd quarter. Pzena Investment Management LLC now owns 5,087 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 138 shares in the last quarter. State of Wisconsin Investment Board increased its stake in Brown & Brown by 0.6% during the 2nd quarter. State of Wisconsin Investment Board now owns 23,381 shares of the financial services provider’s stock valued at $1,007,000 after purchasing an additional 140 shares in the last quarter. Finally, Mosaic Family Wealth LLC increased its stake in Brown & Brown by 5.9% during the 2nd quarter. Mosaic Family Wealth LLC now owns 4,208 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 235 shares in the last quarter. 72.18% of the stock is owned by institutional investors.

Shares of Brown & Brown, Inc. (NYSE BRO) opened at 46.42 on Monday. The stock has a 50 day moving average of $44.77 and a 200-day moving average of $43.44. Brown & Brown, Inc. has a 1-year low of $36.04 and a 1-year high of $48.32. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 24.82 and a beta of 0.77.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, July 17th. The financial services provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.02. The business had revenue of $466.30 million during the quarter, compared to the consensus estimate of $465.48 million. Brown & Brown had a net margin of 14.52% and a return on equity of 11.10%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 EPS. Equities analysts anticipate that Brown & Brown, Inc. will post $1.85 EPS for the current fiscal year.

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods restated a “hold” rating and set a $43.00 price target on shares of Brown & Brown in a research note on Friday, August 18th. BidaskClub upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Wells Fargo & Company restated a “hold” rating on shares of Brown & Brown in a research note on Tuesday, August 15th. Zacks Investment Research lowered shares of Brown & Brown from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Citigroup Inc. upped their price target on shares of Brown & Brown from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 13th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.43.

COPYRIGHT VIOLATION NOTICE: This story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another website, it was illegally copied and reposted in violation of international trademark and copyright legislation. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/09/18/nicholas-company-inc-has-4-85-million-position-in-brown-brown-inc-bro.html.

In other news, EVP Anthony T. Strianese sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $44.59, for a total transaction of $445,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 16.98% of the stock is currently owned by insiders.

Brown & Brown Profile

Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.

Want to see what other hedge funds are holding BRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brown & Brown, Inc. (NYSE:BRO).

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

Receive News & Stock Ratings for Brown & Brown Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brown & Brown Inc. and related stocks with our FREE daily email newsletter.