OxFORD Asset Management LLP increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 110.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,508 shares of the financial services provider’s stock after buying an additional 20,758 shares during the quarter. OxFORD Asset Management LLP’s holdings in Brown & Brown were worth $1,702,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Prudential Financial Inc. grew its position in Brown & Brown by 28.0% during the first quarter. Prudential Financial Inc. now owns 173,322 shares of the financial services provider’s stock worth $7,231,000 after buying an additional 37,890 shares in the last quarter. Comerica Bank grew its position in Brown & Brown by 0.9% during the second quarter. Comerica Bank now owns 90,104 shares of the financial services provider’s stock worth $3,987,000 after buying an additional 772 shares in the last quarter. Russell Investments Group Ltd. grew its position in Brown & Brown by 5.9% during the second quarter. Russell Investments Group Ltd. now owns 83,762 shares of the financial services provider’s stock worth $3,607,000 after buying an additional 4,652 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Brown & Brown by 5.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 467,704 shares of the financial services provider’s stock worth $20,145,000 after buying an additional 26,188 shares in the last quarter. Finally, Mosaic Family Wealth LLC grew its position in Brown & Brown by 5.9% during the second quarter. Mosaic Family Wealth LLC now owns 4,208 shares of the financial services provider’s stock worth $181,000 after buying an additional 235 shares in the last quarter. 72.18% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently issued reports on BRO shares. BidaskClub downgraded Brown & Brown from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Wells Fargo & Company reissued a “hold” rating on shares of Brown & Brown in a research report on Tuesday, August 15th. Citigroup Inc. upped their target price on Brown & Brown from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 13th. Keefe, Bruyette & Woods restated a “hold” rating and set a $43.00 target price on shares of Brown & Brown in a research note on Friday, August 18th. Finally, Zacks Investment Research cut Brown & Brown from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $43.43.

In other news, EVP Anthony T. Strianese sold 18,870 shares of Brown & Brown stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $44.49, for a total transaction of $839,526.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 16.98% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “OxFORD Asset Management LLP Has $1.70 Million Position in Brown & Brown, Inc. (BRO)” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another site, it was illegally stolen and reposted in violation of international copyright and trademark law. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2017/10/09/oxford-asset-management-llp-has-1-70-million-position-in-brown-brown-inc-bro.html.

Shares of Brown & Brown, Inc. (BRO) opened at 48.73 on Monday. The firm’s 50-day moving average price is $46.49 and its 200 day moving average price is $43.94. The company has a market capitalization of $6.82 billion, a PE ratio of 26.06 and a beta of 0.79. Brown & Brown, Inc. has a 1-year low of $36.04 and a 1-year high of $49.12.

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, beating analysts’ consensus estimates 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 net margin of 14.52% and a return on equity of 11.10%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS. Equities analysts predict that Brown & Brown, Inc. will post $1.85 EPS for the current fiscal year.

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.