Brown & Brown, Inc. $BRO Shares Sold by MGO One Seven LLC

MGO One Seven LLC decreased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 35.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,040 shares of the financial services provider’s stock after selling 11,589 shares during the quarter. MGO One Seven LLC’s holdings in Brown & Brown were worth $1,973,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BRO. Vanguard Group Inc. increased its holdings in Brown & Brown by 16.8% during the 2nd quarter. Vanguard Group Inc. now owns 35,625,322 shares of the financial services provider’s stock worth $3,949,779,000 after purchasing an additional 5,124,203 shares during the last quarter. State Street Corp grew its position in shares of Brown & Brown by 11.3% during the second quarter. State Street Corp now owns 12,460,821 shares of the financial services provider’s stock worth $1,381,531,000 after buying an additional 1,262,139 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Brown & Brown by 16.6% in the second quarter. Geode Capital Management LLC now owns 7,369,576 shares of the financial services provider’s stock worth $813,624,000 after buying an additional 1,050,350 shares during the last quarter. Invesco Ltd. increased its stake in shares of Brown & Brown by 1.1% in the second quarter. Invesco Ltd. now owns 4,166,370 shares of the financial services provider’s stock worth $461,925,000 after buying an additional 46,235 shares during the last quarter. Finally, Norges Bank acquired a new stake in Brown & Brown in the second quarter valued at $433,740,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup lowered shares of Brown & Brown from a “buy” rating to a “neutral” rating in a report on Monday, November 3rd. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a research note on Monday, November 3rd. BMO Capital Markets reissued a “market perform” rating on shares of Brown & Brown in a report on Tuesday, December 30th. JPMorgan Chase & Co. began coverage on Brown & Brown in a report on Thursday, December 18th. They set a “neutral” rating and a $91.00 target price on the stock. Finally, Morgan Stanley decreased their target price on Brown & Brown from $95.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, November 17th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $99.27.

Brown & Brown Trading Up 0.4%

Shares of NYSE:BRO opened at $79.38 on Thursday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $79.87 and its 200 day moving average price is $89.87. The company has a market cap of $27.10 billion, a PE ratio of 23.77, a P/E/G ratio of 1.76 and a beta of 0.81. Brown & Brown, Inc. has a fifty-two week low of $76.17 and a fifty-two week high of $125.68.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.54 billion. During the same period last year, the firm earned $0.91 EPS. The firm’s revenue was up 35.4% compared to the same quarter last year. Sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 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 12th. Shareholders of record on Wednesday, November 5th were given a dividend of $0.165 per share. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, November 5th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.8%. Brown & Brown’s payout ratio is presently 19.76%.

Brown & Brown Company 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.