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

Mount Yale Investment Advisors LLC grew its position 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. The fund 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 institutional investors also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of Brown & Brown in the first quarter valued at approximately $32,000. Alaska Permanent Fund Corp bought a new position in Brown & Brown in the 1st quarter worth approximately $36,000. First PREMIER Bank bought a new position in Brown & Brown in the 1st quarter worth approximately $40,000. Park Place Capital Corp raised its position in Brown & Brown by 166.5% in the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 318 shares during the last quarter. Finally, Intelligent Financial Strategies bought a new position in Brown & Brown in the 1st quarter worth approximately $45,000. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Trading Up 0.9 %

Shares of BRO stock traded up $0.92 on Tuesday, hitting $99.58. The stock had a trading volume of 41,334 shares, compared to its average volume of 1,257,714. Brown & Brown, Inc. has a twelve month low of $66.73 and a twelve month high of $99.92. The firm has a market cap of $28.41 billion, a P/E ratio of 30.36, a PEG ratio of 2.47 and a beta of 0.82. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average price of $91.28 and a two-hundred day moving average price of $85.63.

Brown & Brown (NYSE:BRO) last announced 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. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.14 billion. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 EPS. As a group, analysts forecast that Brown & Brown, Inc. will post 3.67 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, August 7th. Brown & Brown’s payout ratio is presently 16.00%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Friday. Royal Bank of Canada lifted their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a 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 report on Thursday, July 25th. Finally, Citigroup lifted their target price on shares of Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One equities research 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $97.40.

Insider Buying and Selling

In related news, EVP Julie Turpin sold 3,350 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $89.92, for a total value of $301,232.00. Following the completion of the transaction, 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 document filed with the SEC, which is available through the SEC website. Company insiders own 17.02% of the company’s stock.

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.