Fenimore Asset Management Inc Lowers stake in Brown & Brown (BRO)

Brown & Brown (BRO) : Fenimore Asset Management Inc reduced its stake in Brown & Brown by 2.88% during the most recent quarter end. The investment management company now holds a total of 1,801,562 shares of Brown & Brown which is valued at $65,793,044 after selling 53,445 shares in Brown & Brown , the firm said in a disclosure report filed with the SEC on Jul 13, 2016.Brown & Brown makes up approximately 3.16% of Fenimore Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Capstone Asset Management Co boosted its stake in BRO in the latest quarter, The investment management firm added 320 additional shares and now holds a total of 11,458 shares of Brown & Brown which is valued at $418,446. Brown & Brown makes up approx 0.01% of Capstone Asset Management Co’s portfolio.Cutler Group Lp boosted its stake in BRO in the latest quarter, The investment management firm added 146 additional shares and now holds a total of 341 shares of Brown & Brown which is valued at $12,453.Benjamin F. Edwards Company reduced its stake in BRO by selling 293 shares or 1.95% in the most recent quarter. The Hedge Fund company now holds 14,708 shares of BRO which is valued at $537,136. Brown & Brown makes up approx 0.10% of Benjamin F. Edwards Company’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in BRO in the latest quarter, The investment management firm added 38,410 additional shares and now holds a total of 56,100 shares of Brown & Brown which is valued at $2,094,774. Brown & Brown makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.Curian Capital reduced its stake in BRO by selling 20,810 shares or 72.68% in the most recent quarter. The Hedge Fund company now holds 7,823 shares of BRO which is valued at $292,111. Brown & Brown makes up approx 0.02% of Curian Capital’s portfolio.

Brown & Brown closed down -0.14 points or -0.39% at $35.9 with 10,30,996 shares getting traded on Monday. Post opening the session at $36.08, the shares hit an intraday low of $35.81 and an intraday high of $36.12 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Brown & Brown reported $0.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 18, 2016. Analyst had a consensus of $0.44. The company had revenue of $446.50 million for the quarter, compared to analysts expectations of $440.00 million. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.

Many Wall Street Analysts have commented on Brown & Brown. Brown & Brown was Initiated by JP Morgan to “Underweight” on Jun 28, 2016.

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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