Mogy Joel R Investment Counsel Inc. Has $5.55 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Mogy Joel R Investment Counsel Inc. grew its holdings in Brown & Brown, Inc. (NYSE:BRO) by 131.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,591 shares of the financial services provider’s stock after purchasing an additional 25,306 shares during the quarter. 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.

Several other institutional investors also recently modified their holdings of BRO. Gateway Investment Advisers LLC boosted its stake in Brown & Brown by 2.3% in the first quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider’s stock valued at $536,000 after acquiring an additional 97 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Brown & Brown by 3.4% in the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 103 shares during the period. Lido Advisors LLC lifted its stake in shares of Brown & Brown by 2.6% in the 4th quarter. Lido Advisors LLC now owns 4,690 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 120 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Brown & Brown by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 20,379 shares of the financial services provider’s stock worth $2,079,000 after purchasing an additional 130 shares during the last quarter. Finally, Frank Rimerman Advisors LLC grew its stake in shares of Brown & Brown by 4.6% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,265 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 143 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of BRO opened at $104.39 on Thursday. The firm has a market cap of $29.92 billion, a P/E ratio of 30.17, a PEG ratio of 2.93 and a beta of 0.84. Brown & Brown, Inc. has a twelve month low of $88.31 and a twelve month high of $125.68. 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 firm’s 50 day moving average price is $112.61 and its two-hundred day moving average price is $111.16.

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

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown’s dividend payout ratio is 16.71%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods cut their target price on Brown & Brown from $102.00 to $100.00 and set an “underperform” rating on the stock in a research note on Monday, May 5th. Jefferies Financial Group upped their price target on Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a research note on Friday, April 11th. Morgan Stanley reiterated an “equal weight” rating and issued a $128.00 price target on shares of Brown & Brown in a research report on Tuesday, March 25th. Truist Financial decreased their price objective on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Finally, Barclays upped their target price on shares of Brown & Brown from $119.00 to $121.00 and gave the company an “equal weight” rating in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and an average price target of $118.25.

Brown & Brown 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.