Baker Tilly Wealth Management LLC Purchases 789 Shares of Brown & Brown, Inc. (NYSE:BRO)

Baker Tilly Wealth Management LLC grew its position in Brown & Brown, Inc. (NYSE:BRO) by 14.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,167 shares of the financial services provider’s stock after purchasing an additional 789 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Brown & Brown were worth $639,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund increased its position in Brown & Brown by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock worth $1,819,000 after buying an additional 100 shares during the last quarter. Trust Point Inc. increased its position in Brown & Brown by 4.3% during the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock worth $261,000 after buying an additional 103 shares during the last quarter. Creative Planning increased its position in Brown & Brown by 0.4% during the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock worth $3,097,000 after buying an additional 112 shares during the last quarter. State of Alaska Department of Revenue increased its position in Brown & Brown by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 25,633 shares of the financial services provider’s stock worth $2,243,000 after buying an additional 125 shares during the last quarter. Finally, Anchor Investment Management LLC increased its position in Brown & Brown by 4.0% during the second quarter. Anchor Investment Management LLC now owns 3,286 shares of the financial services provider’s stock worth $294,000 after buying an additional 125 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Up 0.4 %

Shares of BRO opened at $104.35 on Monday. Brown & Brown, Inc. has a 52 week low of $67.65 and a 52 week high of $107.67. The stock has a market capitalization of $29.77 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 2.48 and a beta of 0.83. 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 fifty day moving average of $104.03 and a 200-day moving average of $95.29.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.57%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Wednesday, November 6th. Brown & Brown’s dividend payout ratio is presently 18.46%.

Insider Activity at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Hyatt J. Brown sold 134,640 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $8,872,802.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BRO has been the subject of several recent analyst reports. Bank of America upped their target price on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Raymond James upped their target price on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Barclays initiated coverage on Brown & Brown in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 target price for the company. Truist Financial upped their target price on Brown & Brown from $112.00 to $116.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Argus initiated coverage on Brown & Brown in a research note on Tuesday, September 24th. They set a “buy” rating and a $120.00 target price for the company. One investment 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. According to data from MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and a consensus target price of $105.67.

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.