Ameriprise Financial Inc. boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 324,017 shares of the financial services provider’s stock after acquiring an additional 13,817 shares during the quarter. Ameriprise Financial Inc. owned 0.23% of Brown & Brown worth $13,956,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. WBI Investments Inc. raised its position in Brown & Brown by 91.2% during the second quarter. WBI Investments Inc. now owns 104,887 shares of the financial services provider’s stock worth $4,517,000 after acquiring an additional 50,026 shares in the last quarter. Raymond James Trust N.A. raised its position in Brown & Brown by 5.0% during the second quarter. Raymond James Trust N.A. now owns 12,880 shares of the financial services provider’s stock worth $554,000 after acquiring an additional 611 shares in the last quarter. Stephens Inc. AR raised its position in Brown & Brown by 18.0% during the second quarter. Stephens Inc. AR now owns 12,119 shares of the financial services provider’s stock worth $522,000 after acquiring an additional 1,846 shares in the last quarter. Riverhead Capital Management LLC raised its position in Brown & Brown by 68.3% during the second quarter. Riverhead Capital Management LLC now owns 9,593 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 3,893 shares in the last quarter. Finally, Capital Fund Management S.A. raised its position in Brown & Brown by 11.2% during the second quarter. Capital Fund Management S.A. now owns 16,900 shares of the financial services provider’s stock worth $728,000 after acquiring an additional 1,700 shares in the last quarter. 72.18% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This story was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another publication, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The correct version of this story can be read at https://www.thecerbatgem.com/2017/10/07/ameriprise-financial-inc-has-13-96-million-holdings-in-brown-brown-inc-bro.html.

In other news, EVP Anthony T. Strianese sold 18,870 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $44.49, for a total value of $839,526.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 16.98% of the company’s stock.

Several analysts have issued reports on the stock. Zacks Investment Research lowered shares of Brown & Brown from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. BidaskClub raised shares of Brown & Brown from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Brown & Brown in a research report on Tuesday, August 15th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $44.00 price target on shares of Brown & Brown in a research report on Tuesday, June 13th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $43.00 price target on shares of Brown & Brown in a research report on Friday, August 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $43.43.

Brown & Brown, Inc. (NYSE:BRO) opened at 48.73 on Friday. Brown & Brown, Inc. has a 12 month low of $36.05 and a 12 month high of $49.12. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 26.06 and a beta of 0.79. The stock has a 50 day moving average of $46.49 and a 200 day moving average of $43.94.

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

About Brown & Brown

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.