Mirabella Financial Services LLP Makes New $1.82 Million Investment in Brown & Brown, Inc. (NYSE:BRO)

Mirabella Financial Services LLP acquired a new stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,811 shares of the financial services provider's stock, valued at approximately $1,816,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BRO. Mogy Joel R Investment Counsel Inc. lifted its stake in Brown & Brown by 324.3% in the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider's stock valued at $1,967,000 after buying an additional 14,740 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Brown & Brown by 395.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider's stock valued at $3,489,000 after purchasing an additional 27,297 shares during the last quarter. National Bank of Canada FI lifted its position in Brown & Brown by 56.8% in the 4th quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider's stock valued at $19,365,000 after purchasing an additional 68,745 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Brown & Brown by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider's stock valued at $138,394,000 after purchasing an additional 40,881 shares during the period. Finally, Victory Capital Management Inc. grew its position in Brown & Brown by 19.9% in the 4th quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider's stock worth $31,055,000 after purchasing an additional 50,510 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Wall Street Analyst Weigh In

BRO has been the topic of a number of recent analyst reports. Bank of America lifted their price target on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Barclays lifted their target price on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods increased their price target on Brown & Brown from $97.00 to $102.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 9th. Morgan Stanley reissued an "equal weight" rating and set a $128.00 price target on shares of Brown & Brown in a report on Tuesday, March 25th. Finally, Edward Jones began coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They issued a "buy" rating for the company. One 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 MarketBeat.com, Brown & Brown presently has a consensus rating of "Hold" and an average target price of $117.50.

Brown & Brown Price Performance

Shares of NYSE:BRO traded down $3.47 during trading hours on Friday, hitting $114.29. 3,085,479 shares of the company's stock traded hands, compared to its average volume of 1,440,502. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The company's fifty day simple moving average is $118.02 and its two-hundred day simple moving average is $110.47. Brown & Brown, Inc. has a 52 week low of $80.87 and a 52 week high of $125.68. The company has a market cap of $32.68 billion, a price-to-earnings ratio of 33.03, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

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.