Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. lifted its stake in Brown & Brown, Inc. (NYSE:BRO) by 324.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,285 shares of the financial services provider’s stock after purchasing an additional 14,740 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in Brown & Brown were worth $1,967,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BRO. Brooklyn Investment Group purchased a new position in Brown & Brown in the third quarter valued at about $26,000. ST Germain D J Co. Inc. grew its holdings in shares of Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 200 shares during the period. Ashton Thomas Securities LLC purchased a new position in Brown & Brown in the 3rd quarter valued at approximately $29,000. Versant Capital Management Inc raised its holdings in Brown & Brown by 130.7% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 234 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Brown & Brown during the third quarter worth $58,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods dropped their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Argus assumed coverage on shares of Brown & Brown in a research report on Tuesday, September 24th. They set a “buy” rating and a $120.00 target price for the company. Truist Financial increased their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Barclays lifted their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Finally, StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $112.08.

Brown & Brown Stock Performance

NYSE BRO opened at $105.52 on Tuesday. The business’s 50-day moving average price is $106.19 and its 200 day moving average price is $103.47. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a twelve month low of $73.23 and a twelve month high of $114.15. The company has a market capitalization of $30.17 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 2.21 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, research analysts predict that Brown & Brown, Inc. will post 3.74 earnings per share for the current year.

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Wednesday, November 6th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

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.