Tandem Investment Advisors Inc. Sells 3,530 Shares of Brown & Brown, Inc. (BRO)

Tandem Investment Advisors Inc. decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 218,965 shares of the financial services provider’s stock after selling 3,530 shares during the period. Brown & Brown makes up approximately 3.9% of Tandem Investment Advisors Inc.’s holdings, making the stock its 5th largest position. Tandem Investment Advisors Inc.’s holdings in Brown & Brown were worth $11,268,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Brown & Brown by 4.4% during the second quarter. Vanguard Group Inc. now owns 11,226,387 shares of the financial services provider’s stock worth $483,521,000 after buying an additional 468,116 shares during the period. BlackRock Inc. boosted its stake in shares of Brown & Brown by 2.2% during the second quarter. BlackRock Inc. now owns 9,704,740 shares of the financial services provider’s stock worth $417,982,000 after buying an additional 213,014 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Brown & Brown by 1.8% during the third quarter. First Eagle Investment Management LLC now owns 7,263,759 shares of the financial services provider’s stock worth $350,041,000 after buying an additional 130,278 shares during the period. State Street Corp boosted its stake in shares of Brown & Brown by 1.7% during the second quarter. State Street Corp now owns 5,807,711 shares of the financial services provider’s stock worth $250,140,000 after buying an additional 98,674 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Brown & Brown by 2.3% during the third quarter. Wells Fargo & Company MN now owns 5,804,446 shares of the financial services provider’s stock worth $279,717,000 after buying an additional 130,832 shares during the period. Institutional investors and hedge funds own 71.95% of the company’s stock.

BRO has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Morgan Stanley raised their price objective on shares of Brown & Brown from $40.00 to $43.00 and gave the company an “underweight” rating in a research report on Wednesday, October 18th. SunTrust Banks upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. Barclays raised their price objective on shares of Brown & Brown from $39.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 16th. Finally, Wells Fargo & Co set a $45.00 price objective on shares of Brown & Brown and gave the company a “hold” rating in a research report on Monday, October 16th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Brown & Brown currently has a consensus rating of “Hold” and an average price target of $46.38.

Shares of Brown & Brown, Inc. (NYSE BRO) traded down $0.16 during trading on Tuesday, reaching $52.13. 346,100 shares of the company’s stock were exchanged, compared to its average volume of 448,400. Brown & Brown, Inc. has a 12 month low of $41.10 and a 12 month high of $52.42. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $7,350.00, a PE ratio of 28.03, a PEG ratio of 2.50 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, October 16th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.04. Brown & Brown had a net margin of 14.66% and a return on equity of 10.99%. The company had revenue of $475.60 million during the quarter, compared to analysts’ expectations of $475.13 million. During the same period last year, the company posted $0.50 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. research analysts predict that Brown & Brown, Inc. will post 1.88 earnings per share for the current fiscal year.

In other news, insider Michael Waldkirch sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $0.75, for a total transaction of $56,250.00. Also, Director Richard Silas sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $0.83, for a total transaction of $41,500.00. Over the last ninety days, insiders sold 163,000 shares of company stock valued at $126,250. 16.98% of the stock is currently owned by corporate insiders.

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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.

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

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