Mount Yale Investment Advisors LLC Buys 3,467 Shares of Brown & Brown, Inc. (NYSE:BRO)

Mount Yale Investment Advisors LLC lifted its stake in Brown & Brown, Inc. (NYSE:BRO) by 60.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,224 shares of the financial services provider’s stock after acquiring an additional 3,467 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Brown & Brown were worth $807,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in shares of Brown & Brown in the first quarter worth $32,000. Alaska Permanent Fund Corp bought a new stake in Brown & Brown during the first quarter valued at $36,000. First PREMIER Bank bought a new stake in Brown & Brown during the first quarter valued at $40,000. Park Place Capital Corp boosted its stake in Brown & Brown by 166.5% during the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after buying an additional 318 shares during the period. Finally, Intelligent Financial Strategies bought a new stake in Brown & Brown during the first quarter valued at $45,000. 71.01% of the stock is owned by institutional investors.

Brown & Brown Trading Up 0.9 %

Shares of NYSE BRO traded up $0.92 during trading hours on Tuesday, hitting $99.58. The company’s stock had a trading volume of 41,334 shares, compared to its average volume of 1,257,714. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a market cap of $28.41 billion, a price-to-earnings ratio of 30.36, a P/E/G ratio of 2.47 and a beta of 0.82. Brown & Brown, Inc. has a 12 month low of $66.73 and a 12 month high of $99.92. The business has a 50-day simple moving average of $91.28 and a 200-day simple moving average of $85.63.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.05. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. Brown & Brown’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. On average, analysts anticipate that Brown & Brown, Inc. will post 3.67 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.52 annualized dividend and a yield of 0.52%. Brown & Brown’s payout ratio is 16.00%.

Insider Buying and Selling at Brown & Brown

In other news, EVP Julie Turpin sold 3,350 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $89.92, for a total value of $301,232.00. Following the sale, the executive vice president now directly owns 23,597 shares of the company’s stock, valued at approximately $2,121,842.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 17.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research note on Friday. Bank of America raised Brown & Brown from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $91.00 to $101.00 in a research note on Wednesday, May 22nd. Truist Financial lifted their price objective on Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Company raised their price target on Brown & Brown from $88.00 to $94.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price target on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $97.40.

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.