113,442 Shares in Brown & Brown, Inc. (NYSE:BRO) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new position in Brown & Brown, Inc. (NYSE:BRO) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 113,442 shares of the financial services provider’s stock, valued at approximately $117,530,000.

A number of other institutional investors also recently bought and sold shares of BRO. State Board of Administration of Florida Retirement System lifted its position in shares of Brown & Brown by 2.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 267,190 shares of the financial services provider’s stock worth $23,390,000 after purchasing an additional 6,613 shares during the last quarter. Sei Investments Co. lifted its position in shares of Brown & Brown by 12.7% during the first quarter. Sei Investments Co. now owns 276,090 shares of the financial services provider’s stock worth $24,169,000 after purchasing an additional 31,071 shares during the last quarter. Great Valley Advisor Group Inc. bought a new stake in shares of Brown & Brown during the second quarter worth $1,512,000. DekaBank Deutsche Girozentrale lifted its position in shares of Brown & Brown by 12.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider’s stock worth $21,855,000 after purchasing an additional 27,879 shares during the last quarter. Finally, Norden Group LLC lifted its position in shares of Brown & Brown by 2,650.9% during the first quarter. Norden Group LLC now owns 99,856 shares of the financial services provider’s stock worth $8,741,000 after purchasing an additional 96,226 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Insider Transactions at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction dated 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 owns 88,445 shares in the company, valued at $8,872,802.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BRO shares. Raymond James lifted their target price on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a report on Friday. Bank of America lifted their price objective on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Truist Financial lifted their price objective on Brown & Brown from $112.00 to $116.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays started coverage on Brown & Brown in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Brown & Brown has an average rating of “Hold” and an average price target of $105.67.

Brown & Brown Price Performance

BRO opened at $103.98 on Friday. The business’s 50-day moving average is $104.03 and its two-hundred day moving average is $95.13. Brown & Brown, Inc. has a 1 year low of $67.30 and a 1 year high of $107.67. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a market capitalization 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.

Brown & Brown Increases Dividend

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

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.