Outlook Wealth Advisors LLC Buys 158 Shares of Brown & Brown, Inc. (NYSE:BRO)

Outlook Wealth Advisors LLC grew its stake in Brown & Brown, Inc. (NYSE:BRO) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,992 shares of the financial services provider’s stock after acquiring an additional 158 shares during the period. Outlook Wealth Advisors LLC’s holdings in Brown & Brown were worth $414,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Crewe Advisors LLC lifted its stake in Brown & Brown by 330.4% in the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 228 shares during the last quarter. ST Germain D J Co. Inc. lifted its stake in Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Brown & Brown in the 1st quarter valued at about $32,000. Blue Trust Inc. lifted its stake in Brown & Brown by 142.3% in the 2nd quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 323 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in Brown & Brown by 65.7% in the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 211 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BRO shares. Argus started coverage on shares of Brown & Brown in a research note on Tuesday, September 24th. They issued a “buy” rating and a $120.00 target price for the company. Truist Financial raised their price objective on shares of Brown & Brown from $112.00 to $116.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Raymond James raised their price objective 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. Wells Fargo & Company raised their price objective on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Barclays started coverage on shares of Brown & Brown in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $105.67.

Insider Activity

In related news, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the transaction, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at $8,872,802.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction 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 $8,872,802.40. This trade represents 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 owned by company insiders.

Brown & Brown Stock Down 1.2 %

NYSE BRO opened at $103.98 on Friday. 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, Inc. has a 1-year low of $67.30 and a 1-year high of $107.67. The company has a 50 day moving average of $104.03 and a 200-day moving average of $95.13. The company has a market cap of $29.66 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 2.48 and a beta of 0.83.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.58%. 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 payout ratio is presently 14.94%.

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.