Mount Yale Investment Advisors LLC Lowers Position in Brown & Brown, Inc. (NYSE:BRO)

Mount Yale Investment Advisors LLC decreased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,415 shares of the financial services provider’s stock after selling 379 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Brown & Brown were worth $872,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Brown & Brown by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 28,355,305 shares of the financial services provider’s stock worth $2,482,223,000 after buying an additional 203,105 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Brown & Brown by 0.7% during the 2nd quarter. Principal Financial Group Inc. now owns 12,804,979 shares of the financial services provider’s stock worth $1,144,893,000 after acquiring an additional 86,824 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Brown & Brown by 0.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider’s stock worth $405,638,000 after acquiring an additional 28,180 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Brown & Brown by 24.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock worth $311,979,000 after acquiring an additional 687,783 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in Brown & Brown by 105.1% in the second quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock valued at $184,930,000 after acquiring an additional 1,059,711 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Price Performance

Shares of Brown & Brown stock opened at $103.98 on Friday. The firm has a market cap of $29.66 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 2.48 and a beta of 0.83. The company’s fifty day simple moving average is $104.03 and its two-hundred day simple moving average is $95.13. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12-month low of $67.30 and a 12-month high of $107.67.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Wednesday, November 6th. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s payout ratio is currently 14.94%.

Insider Activity at Brown & Brown

In other news, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the sale, the chief financial officer now directly owns 88,445 shares in the company, valued at approximately $8,872,802.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO R. Andrew Watts sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the completion of the sale, the chief financial officer now owns 88,445 shares of the company’s stock, valued at $8,872,802.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The disclosure for this sale can be found here. 17.02% of the stock is owned by company insiders.

Analyst Ratings Changes

BRO has been the subject of several research analyst reports. Truist Financial lifted their price target on Brown & Brown from $112.00 to $116.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada increased their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Barclays initiated coverage on shares of Brown & Brown in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and an average price target of $105.67.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.