WCM Investment Management LLC lessened its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 5.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 284,342 shares of the financial services provider’s stock after selling 14,827 shares during the period. WCM Investment Management LLC’s holdings in Brown & Brown were worth $9,525,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Altshuler Shaham Ltd grew its stake in shares of Brown & Brown by 89.0% in the second quarter. Altshuler Shaham Ltd now owns 2,792 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 1,315 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Brown & Brown in the second quarter worth $308,000. Swiss National Bank grew its stake in shares of Brown & Brown by 1.1% in the second quarter. Swiss National Bank now owns 442,400 shares of the financial services provider’s stock worth $14,820,000 after purchasing an additional 4,700 shares during the last quarter. Comerica Bank grew its stake in shares of Brown & Brown by 3.6% in the second quarter. Comerica Bank now owns 153,604 shares of the financial services provider’s stock worth $5,364,000 after purchasing an additional 5,346 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Brown & Brown by 4.8% in the second quarter. Envestnet Asset Management Inc. now owns 69,596 shares of the financial services provider’s stock worth $2,331,000 after purchasing an additional 3,211 shares during the last quarter. Institutional investors own 70.24% of the company’s stock.

In related news, Director H Palmer Proctor, Jr. acquired 5,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were purchased at an average price of $35.96 per share, for a total transaction of $179,800.00. Following the completion of the acquisition, the director now owns 29,353 shares of the company’s stock, valued at $1,055,533.88. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 16.69% of the stock is currently owned by corporate insiders.

Several brokerages recently weighed in on BRO. Raymond James boosted their price objective on shares of Brown & Brown from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. ValuEngine cut shares of Brown & Brown from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. SunTrust Banks upped their price target on shares of Brown & Brown to $40.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Morgan Stanley upped their price target on shares of Brown & Brown from $30.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, July 25th. Four research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Brown & Brown has an average rating of “Hold” and an average price target of $31.57.

BRO traded up $0.25 during trading on Thursday, reaching $36.29. 319,842 shares of the stock traded hands, compared to its average volume of 1,227,917. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $10.24 billion, a PE ratio of 29.50, a P/E/G ratio of 2.61 and a beta of 0.72. The stock’s 50-day moving average is $35.62 and its 200 day moving average is $31.94. Brown & Brown, Inc. has a 12 month low of $25.72 and a 12 month high of $36.91.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.04. Brown & Brown had a net margin of 17.28% and a return on equity of 12.64%. The firm had revenue of $575.20 million for the quarter, compared to analyst estimates of $554.35 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Brown & Brown, Inc. will post 1.39 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.32 annualized dividend and a dividend yield of 0.88%. Brown & Brown’s dividend payout ratio is currently 26.02%.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.

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

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