Blue Trust Inc. Acquires 914 Shares of Brown & Brown, Inc. (NYSE:BRO)

Blue Trust Inc. lifted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 166.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,464 shares of the financial services provider’s stock after buying an additional 914 shares during the quarter. Blue Trust Inc.’s holdings in Brown & Brown were worth $152,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in BRO. Crewe Advisors LLC raised its holdings in shares of Brown & Brown by 330.4% in the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after buying an additional 228 shares during the last quarter. Headlands Technologies LLC bought a new stake in Brown & Brown during the 1st quarter worth about $32,000. Larson Financial Group LLC raised its holdings in Brown & Brown by 65.7% during the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 211 shares during the last quarter. ORG Partners LLC raised its holdings in Brown & Brown by 111.0% during the 1st quarter. ORG Partners LLC now owns 633 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 333 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Brown & Brown by 28.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 916 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 201 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Bank of America boosted their price objective on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Jefferies Financial Group boosted their price objective on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a report on Friday. UBS Group boosted their target price on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Finally, Barclays initiated coverage on Brown & Brown in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $105.67.

Brown & Brown Price Performance

Shares of BRO opened at $103.98 on Monday. 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 50 day simple moving average of $104.03 and a 200 day simple moving average of $95.29. Brown & Brown, Inc. has a 52-week low of $67.30 and a 52-week high of $107.67. The firm has a market capitalization of $29.66 billion, a PE ratio of 31.99, a P/E/G ratio of 2.48 and a beta of 0.83.

Brown & Brown Increases Dividend

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

Insider Activity at Brown & Brown

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

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.