MGO One Seven LLC Acquires 13,423 Shares of Brown & Brown, Inc. (NYSE:BRO)

MGO One Seven LLC increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 229.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,272 shares of the financial services provider's stock after buying an additional 13,423 shares during the period. MGO One Seven LLC's holdings in Brown & Brown were worth $1,966,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Brown & Brown in the 4th quarter valued at approximately $313,412,000. First Trust Advisors LP raised its stake in shares of Brown & Brown by 626.6% during the 4th quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock valued at $239,751,000 after purchasing an additional 2,026,589 shares during the period. Madison Investment Advisors LLC purchased a new stake in Brown & Brown during the 4th quarter worth about $198,031,000. Vanguard Group Inc. boosted its stake in Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock worth $3,054,493,000 after purchasing an additional 1,335,964 shares during the period. Finally, Proficio Capital Partners LLC grew its holdings in Brown & Brown by 11,337.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider's stock valued at $1,109,000 after buying an additional 1,099,199 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Trading Up 1.4 %

BRO traded up $1.47 during trading on Wednesday, hitting $109.46. 683,189 shares of the stock traded hands, compared to its average volume of 1,447,715. The firm has a 50-day moving average of $118.00 and a 200 day moving average of $110.60. Brown & Brown, Inc. has a 12-month low of $81.07 and a 12-month high of $125.68. The firm has a market capitalization of $31.30 billion, a P/E ratio of 31.64, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. 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 issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the business posted $1.14 earnings per share. Brown & Brown's quarterly revenue was up 11.6% compared to the same quarter last year. Equities research analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.55%. Brown & Brown's payout ratio is 17.34%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BRO. Truist Financial boosted their price objective on shares of Brown & Brown from $118.00 to $138.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. Bank of America increased their price objective on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. 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 note on Wednesday, January 29th. UBS Group lifted 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. Finally, Barclays upped their price objective on shares of 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 equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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.