Mirabella Financial Services LLP Purchases Shares of 17,811 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 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,811 shares of the financial services provider's stock, valued at approximately $1,816,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Brown & Brown during the 4th quarter worth $313,412,000. First Trust Advisors LP raised its stake in Brown & Brown by 626.6% during the fourth quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock worth $239,751,000 after acquiring an additional 2,026,589 shares in the last quarter. Madison Investment Advisors LLC acquired a new position in Brown & Brown during the fourth quarter worth about $198,031,000. Vanguard Group Inc. boosted its stake in shares of Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after purchasing an additional 1,335,964 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its position in Brown & Brown by 11,337.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider's stock worth $1,109,000 after purchasing an additional 1,099,199 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BRO has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Bank of America boosted their price objective on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Royal Bank of Canada increased their target price on Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Barclays boosted their price target on Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Finally, Edward Jones assumed coverage on Brown & Brown in a research note on Wednesday, April 16th. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $117.50.

Brown & Brown Trading Up 0.7 %

BRO stock traded up $0.83 during midday trading on Wednesday, hitting $118.39. The stock had a trading volume of 1,933,145 shares, compared to its average volume of 1,436,073. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a market cap of $33.85 billion, a P/E ratio of 34.22, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. The business has a fifty day moving average price of $117.66 and a two-hundred day moving average price of $110.25. Brown & Brown, Inc. has a 1-year low of $80.87 and a 1-year high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share 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.