Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lowered its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 99.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 345 shares of the financial services provider's stock after selling 94,765 shares during the period. Canada Pension Plan Investment Board's holdings in Brown & Brown were worth $35,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Farringdon Capital Ltd. acquired a new stake in Brown & Brown in the 4th quarter valued at $508,000. MSH Capital Advisors LLC purchased a new position in Brown & Brown during the fourth quarter valued at $259,000. Marshall Wace LLP grew its position in shares of Brown & Brown by 977.3% in the fourth quarter. Marshall Wace LLP now owns 43,492 shares of the financial services provider's stock valued at $4,437,000 after purchasing an additional 39,455 shares during the period. Zacks Investment Management increased its stake in shares of Brown & Brown by 28.6% during the fourth quarter. Zacks Investment Management now owns 16,997 shares of the financial services provider's stock worth $1,734,000 after purchasing an additional 3,780 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Brown & Brown by 12.7% during the 4th quarter. NewEdge Advisors LLC now owns 18,125 shares of the financial services provider's stock worth $1,849,000 after purchasing an additional 2,043 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Stock Down 2.9 %

BRO stock opened at $114.29 on Monday. Brown & Brown, Inc. has a one year low of $80.91 and a one year high of $125.68. The firm has a market cap of $32.68 billion, a PE ratio of 33.03, a PEG ratio of 2.93 and a beta of 0.75. The firm's 50 day moving average price is $118.02 and its 200-day moving average price is $110.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, equities research analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Edward Jones started coverage on Brown & Brown in a research note on Wednesday, April 16th. They set a "buy" rating for the company. UBS Group increased their price objective on Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, April 9th. Morgan Stanley reaffirmed an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a research note on Tuesday, March 25th. Wells Fargo & Company increased their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Brown & Brown from $97.00 to $102.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $117.50.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, 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 - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.