Lake Street Advisors Group LLC Invests $228,000 in Brown & Brown, Inc. (NYSE:BRO)

Lake Street Advisors Group LLC acquired a new position in Brown & Brown, Inc. (NYSE:BRO) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,197 shares of the financial services provider’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BRO. ST Germain D J Co. Inc. raised its position in shares of Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Crewe Advisors LLC increased its position in shares of Brown & Brown by 330.4% during the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 228 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Brown & Brown during the 1st quarter valued at about $32,000. Larson Financial Group LLC raised its holdings in shares of Brown & Brown by 65.7% during the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after buying an additional 211 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Brown & Brown by 142.3% in the 2nd quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock worth $48,000 after buying an additional 323 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Analysts Set New Price Targets

Several research analysts have commented on BRO shares. Royal Bank of Canada lifted their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Bank of America lifted their target price on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Friday. Argus assumed coverage on Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective on the stock. Finally, UBS Group increased their target price on Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $105.67.

Brown & Brown Price Performance

BRO stock opened at $103.98 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35. Brown & Brown, Inc. has a 1 year low of $67.30 and a 1 year high of $107.67. The firm has a 50-day moving average of $104.03 and a 200 day moving average of $95.29. The company has a market cap of $29.66 billion, a P/E ratio of 31.99, a PEG ratio of 2.48 and a beta of 0.83.

Brown & Brown Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be given a $0.15 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $0.60 annualized dividend and a dividend yield of 0.58%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio is currently 18.46%.

About Brown & Brown

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.