Mogy Joel R Investment Counsel Inc. Raises Position in Brown & Brown, Inc. (NYSE:BRO)

Mogy Joel R Investment Counsel Inc. grew its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 131.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,591 shares of the financial services provider's stock after purchasing an additional 25,306 shares during the period. Mogy Joel R Investment Counsel Inc.'s holdings in Brown & Brown were worth $5,547,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BRO. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Brown & Brown during the fourth quarter valued at approximately $28,000. Johnson Financial Group Inc. grew its stake in Brown & Brown by 534.1% in the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 235 shares during the period. Sunbelt Securities Inc. increased its position in shares of Brown & Brown by 581.8% during the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 256 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Brown & Brown during the 4th quarter valued at $37,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Brown & Brown by 79.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 490 shares of the financial services provider's stock worth $50,000 after purchasing an additional 217 shares during the period. 71.01% of the stock is owned by institutional investors.

Brown & Brown Stock Performance

Shares of Brown & Brown stock traded down $0.14 during trading hours on Friday, reaching $106.66. The company had a trading volume of 4,130,508 shares, compared to its average volume of 1,636,980. The firm has a market cap of $30.57 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 2.93 and a beta of 0.84. Brown & Brown, Inc. has a one year low of $88.31 and a one year high of $125.68. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The business has a fifty day simple moving average of $112.49 and a 200 day simple moving average of $111.12.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. On average, analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's dividend payout ratio (DPR) is presently 16.71%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BRO shares. Keefe, Bruyette & Woods increased their price target on shares of Brown & Brown from $100.00 to $102.00 and gave the company an "underperform" rating in a research report on Friday. UBS Group increased their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, April 9th. Jefferies Financial Group lifted their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Morgan Stanley reiterated an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a research note on Tuesday, March 25th. Finally, Barclays raised their target price on Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $118.85.

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.