Mogy Joel R Investment Counsel Inc. Has $3.44 Million Stake in Brown & Brown, Inc. $BRO

Mogy Joel R Investment Counsel Inc. reduced its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 27.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,697 shares of the financial services provider’s stock after selling 13,719 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in Brown & Brown were worth $3,442,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BRO. Bares Capital Management Inc. bought a new stake in shares of Brown & Brown in the first quarter worth about $26,000. ST Germain D J Co. Inc. grew its position in shares of Brown & Brown by 298.5% in the 2nd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Brown & Brown in the 2nd quarter valued at approximately $30,000. Motco bought a new stake in Brown & Brown during the 2nd quarter worth approximately $32,000. Finally, Bruce G. Allen Investments LLC raised its holdings in Brown & Brown by 1,129.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock worth $37,000 after buying an additional 305 shares during the period. 71.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on BRO. Mizuho set a $89.00 price objective on shares of Brown & Brown and gave the company a “neutral” rating in a research report on Monday, December 15th. BMO Capital Markets cut Brown & Brown from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $90.00 to $88.00 in a report on Tuesday. JPMorgan Chase & Co. started coverage on Brown & Brown in a report on Thursday, December 18th. They issued a “neutral” rating and a $91.00 price target on the stock. Bank of America reaffirmed a “neutral” rating and set a $97.00 price objective (down from $135.00) on shares of Brown & Brown in a research report on Monday, November 3rd. Finally, Wall Street Zen raised Brown & Brown from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and an average price target of $99.80.

Brown & Brown Stock Performance

BRO opened at $80.78 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 2.10. The business has a fifty day simple moving average of $80.89 and a 200 day simple moving average of $92.56. Brown & Brown, Inc. has a 1 year low of $76.17 and a 1 year high of $125.68. The company has a market capitalization of $27.58 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.89 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the company earned $0.91 EPS. The company’s revenue was up 35.4% on a year-over-year basis. Research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th were given a dividend of $0.165 per share. This is an increase from Brown & Brown’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, November 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 19.76%.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.