Fenimore Asset Management Inc. Increases Position in Brown & Brown, Inc. (BRO)

Fenimore Asset Management Inc. boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,824,303 shares of the financial services provider’s stock after purchasing an additional 20,132 shares during the period. Brown & Brown comprises approximately 3.2% of Fenimore Asset Management Inc.’s holdings, making the stock its 8th largest holding. Fenimore Asset Management Inc. owned about 1.01% of Brown & Brown worth $77,838,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. State of Alaska Department of Revenue increased its holdings in Brown & Brown by 1.9% during the 4th quarter. State of Alaska Department of Revenue now owns 24,886 shares of the financial services provider’s stock valued at $685,000 after purchasing an additional 464 shares during the period. Mutual of America Capital Management LLC increased its holdings in Brown & Brown by 0.9% during the 3rd quarter. Mutual of America Capital Management LLC now owns 215,273 shares of the financial services provider’s stock valued at $6,366,000 after purchasing an additional 1,838 shares during the period. PNC Financial Services Group Inc. increased its holdings in Brown & Brown by 2.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 71,801 shares of the financial services provider’s stock valued at $2,123,000 after purchasing an additional 1,997 shares during the period. Paloma Partners Management Co increased its holdings in Brown & Brown by 16.3% during the 3rd quarter. Paloma Partners Management Co now owns 15,725 shares of the financial services provider’s stock valued at $465,000 after purchasing an additional 2,203 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in Brown & Brown by 0.9% during the 3rd quarter. Retirement Systems of Alabama now owns 299,555 shares of the financial services provider’s stock valued at $8,858,000 after purchasing an additional 2,660 shares during the period. Institutional investors own 71.56% of the company’s stock.

Shares of BRO traded down $0.19 during mid-day trading on Friday, reaching $27.80. The company had a trading volume of 14,690 shares, compared to its average volume of 1,234,698. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. Brown & Brown, Inc. has a 52 week low of $24.34 and a 52 week high of $31.55. The stock has a market cap of $7.76 billion, a P/E ratio of 28.96, a P/E/G ratio of 2.05 and a beta of 0.74.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 22nd. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Brown & Brown had a return on equity of 12.36% and a net margin of 23.15%. The firm had revenue of $530.90 million for the quarter, compared to analysts’ expectations of $508.82 million. During the same period in the previous year, the firm posted $0.27 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts anticipate that Brown & Brown, Inc. will post 1.23 EPS for the current year.

In other news, EVP Anthony T. Strianese sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $28.66, for a total value of $57,320.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 17.12% of the company’s stock.

A number of research analysts have weighed in on the company. ValuEngine upgraded Brown & Brown from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Citigroup set a $27.00 target price on Brown & Brown and gave the stock a “sell” rating in a report on Wednesday, September 19th. Zacks Investment Research upgraded Brown & Brown from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Monday, December 31st. Wells Fargo & Co reiterated a “hold” rating and set a $28.00 target price on shares of Brown & Brown in a report on Monday, October 22nd. Finally, Barclays upped their target price on Brown & Brown from $23.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, November 12th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $29.00.

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About Brown & Brown

Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.

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

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