Mount Yale Investment Advisors LLC Sells 430 Shares of Brown & Brown, Inc. (NYSE:BRO)

Mount Yale Investment Advisors LLC trimmed its position in Brown & Brown, Inc. (NYSE:BRO) by 4.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,794 shares of the financial services provider’s stock after selling 430 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Brown & Brown were worth $786,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Gilbert & Cook Inc. raised its position in shares of Brown & Brown by 6.3% in the 4th quarter. Gilbert & Cook Inc. now owns 10,889 shares of the financial services provider’s stock worth $774,000 after purchasing an additional 646 shares during the last quarter. Brown Advisory Inc. raised its holdings in Brown & Brown by 22.1% in the 4th quarter. Brown Advisory Inc. now owns 5,199 shares of the financial services provider’s stock worth $370,000 after acquiring an additional 942 shares during the last quarter. UBS Group AG lifted its position in Brown & Brown by 20.8% in the 4th quarter. UBS Group AG now owns 460,797 shares of the financial services provider’s stock valued at $32,767,000 after acquiring an additional 79,237 shares in the last quarter. US Bancorp DE boosted its stake in Brown & Brown by 41.2% during the 4th quarter. US Bancorp DE now owns 40,441 shares of the financial services provider’s stock valued at $2,876,000 after purchasing an additional 11,810 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Brown & Brown by 19.2% in the 4th quarter. Hsbc Holdings PLC now owns 385,413 shares of the financial services provider’s stock worth $27,365,000 after purchasing an additional 62,020 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays started coverage on Brown & Brown in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 price objective on the stock. Citigroup lifted their price target on shares of Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Truist Financial increased their price objective on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Raymond James lifted their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada increased their price target on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Brown & Brown presently has an average rating of “Moderate Buy” and an average price target of $100.00.

Brown & Brown Price Performance

NYSE:BRO opened at $102.21 on Tuesday. The business’s 50-day moving average is $100.88 and its 200 day moving average is $92.04. Brown & Brown, Inc. has a 12 month low of $66.73 and a 12 month high of $106.02. The company has a market capitalization of $29.16 billion, a P/E ratio of 31.45, a P/E/G ratio of 2.42 and a beta of 0.83. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm posted $0.68 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. On average, equities research analysts forecast that Brown & Brown, Inc. will post 3.68 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.52 annualized dividend and a yield of 0.51%. Brown & Brown’s payout ratio is 16.00%.

Insider Buying and Selling

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total transaction of $250,800.00. Following the completion of the sale, the chief financial officer now directly owns 88,445 shares in the company, valued at $8,872,802.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 currently owned by corporate 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.