Kerrisdale Advisers adds Brown & Brown (BRO) to its portfolio

Brown & Brown (BRO) : Kerrisdale Advisers added new position in Brown & Brown during the most recent quarter end. The investment management firm now holds 941,421 shares of Brown & Brown which is valued at $33.1 Million , the company said in a statement filed on May 13, 2016 with the SEC.Brown & Brown makes up approximately 5.74% of Kerrisdale Advisers’s portfolio.

Other Hedge Funds, Including , D.a. Davidson boosted its stake in BRO in the latest quarter, The investment management firm added 392 additional shares and now holds a total of 3,850 shares of Brown & Brown which is valued at $135,251. Fuller Thaler Asset Management sold out all of its stake in BRO during the most recent quarter. The investment firm sold 1,100 shares of BRO which is valued $38,643. Ridgeworth Capital Management sold out all of its stake in BRO during the most recent quarter. The investment firm sold 305 shares of BRO which is valued $10,715.

Brown & Brown opened for trading at $35.68 and hit $35.9499 on the upside on Wednesday, eventually ending the session at $35.75, with a gain of 0.42% or 0.15 points. The heightened volatility saw the trading volume jump to 5,72,930 shares. Company has a market cap of $5,006 M.

On the company’s financial health, Brown & Brown reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 18, 2016. Analyst had a consensus of $0.42. The company had revenue of $424.20 million for the quarter, compared to analysts expectations of $425.11 million. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

Brown & Brown Inc. is a diversified insurance agency wholesale brokerage insurance programs and service organization. The Company markets and sells insurance products and services in the property casualty and employee benefits areas. The Company’s has four operating segments: the Retail Division provides insurance products and services to commercial public entity professional and individual customers; the National Programs Division provides professional liability and related package products for certain professionals and markets targeted products and services to industries trade groups public entities and market niches; the Wholesale Brokerage Division markets and sells excess and surplus commercial and personal insurance and reinsurance through agents and brokers; and the Services Division provides customers with thirdparty claims administration consulting for the workers compensation insurance market comprehensive medical utilization management services.

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