Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Walleye Capital LLC

Walleye Capital LLC lessened its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 24.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,701 shares of the financial services provider's stock after selling 3,817 shares during the period. Walleye Capital LLC's holdings in Brown & Brown were worth $1,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mogy Joel R Investment Counsel Inc. grew its position in Brown & Brown by 324.3% during the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider's stock worth $1,967,000 after buying an additional 14,740 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Brown & Brown by 395.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider's stock valued at $3,489,000 after acquiring an additional 27,297 shares during the last quarter. National Bank of Canada FI boosted its stake in Brown & Brown by 56.8% in the 4th quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider's stock worth $19,365,000 after buying an additional 68,745 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Brown & Brown by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider's stock worth $138,394,000 after acquiring an additional 40,881 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Brown & Brown by 19.9% during the fourth quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider's stock worth $31,055,000 after purchasing an additional 50,510 shares during the period. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Performance

Shares of NYSE:BRO traded up $0.83 during trading on Wednesday, reaching $118.39. 1,933,145 shares of the company's stock traded hands, compared to its average volume of 1,437,933. The stock has a market capitalization of $33.85 billion, a P/E ratio of 34.22, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. Brown & Brown, Inc. has a 12 month low of $80.87 and a 12 month high of $125.68. The company has a 50 day moving average of $117.66 and a 200-day moving average of $110.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick 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 the consensus estimate 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 analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Analyst Upgrades and Downgrades

BRO has been the subject of a number of research reports. UBS Group boosted their price target on Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, April 9th. Morgan Stanley reissued an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday, March 25th. Wells Fargo & Company upped their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Bank of America boosted their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group increased their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $117.50.

Brown & Brown Company Profile

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.