Brown & Brown Inc. (NYSE:BRO) EVP Robert W. Lloyd sold 2,971 shares of Brown & Brown stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $37.32, for a total transaction of $110,877.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Brown & Brown Inc. (NYSE:BRO) traded up 1.05% during midday trading on Wednesday, reaching $37.61. 480,473 shares of the company’s stock traded hands. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 21.01 and a beta of 1.04. The company’s 50-day moving average price is $37.03 and its 200 day moving average price is $36.01. Brown & Brown Inc. has a 52 week low of $28.41 and a 52 week high of $38.11.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, July 18th. The company reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. Brown & Brown had a net margin of 14.87% and a return on equity of 11.68%. The company earned $446.50 million during the quarter, compared to the consensus estimate of $439.70 million. During the same period in the prior year, the company earned $0.43 EPS. On average, equities research analysts expect that Brown & Brown Inc. will post $1.81 earnings per share for the current year.

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Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its stake in Brown & Brown by 124.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,693 shares of the company’s stock worth $101,000 after buying an additional 1,494 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in Brown & Brown during the second quarter worth approximately $112,000. Carnick & Kubik LLC purchased a new stake in Brown & Brown during the first quarter worth approximately $158,000. Stephens Inc. AR purchased a new stake in Brown & Brown during the second quarter worth approximately $202,000. Finally, Oakbrook Investments LLC purchased a new stake in Brown & Brown during the second quarter worth approximately $217,000. 72.81% of the stock is owned by institutional investors.

BRO has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Brown & Brown from a “sell” rating to a “buy” rating and set a $39.00 price target for the company in a report on Tuesday, June 28th. BMO Capital Markets set a $38.00 price target on shares of Brown & Brown and gave the stock a “hold” rating in a report on Wednesday, July 20th. RBC Capital Markets reiterated a “sector perform” rating and set a $37.00 price target (up from $35.00) on shares of Brown & Brown in a report on Wednesday, July 20th. Royal Bank Of Canada lifted their price target on shares of Brown & Brown from $35.00 to $37.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 20th. Finally, Compass Point lifted their price target on shares of Brown & Brown from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, July 20th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Brown & Brown has a consensus rating of “Hold” and a consensus price target of $35.00.

About Brown & Brown

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 customers with non-investment insurance contracts, as well as other targeted, customized risk management products and services.

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