10 S&P 500 Dividend Aristocrats To Avoid

9. Brown & Brown, Inc. (NYSE:BRO)

Number of Hedge Fund Holders: 25

Brown & Brown, Inc. (NYSE:BRO) is an American insurance brokerage that provides risk management solutions to its consumers. In 2022, the company raised its dividends for the 29th consecutive year. It currently pays a quarterly dividend of $0.115 per share. The dividend aristocrat stock’s dividend yield came in at 0.73%, as of May 30.

According to Insider Monkey’s database of Q1 2023, 25 hedge funds held stakes in Brown & Brown, Inc. (NYSE:BRO), compared with 29 in the previous quarter. The total value of these stakes is more than $1.1 billion.

TimesSquare Capital Management mentioned Brown & Brown, Inc. (NYSE:BRO) in its Q4 2022 investor letter. Here is what the firm has to say:

“With the improving backdrop for insurance companies, we began a position in Brown & Brown, Inc. (NYSE:BRO). An independent insurance broker specializing in property, casualty, employee benefits, personal lines, and ancillary services, we believe that Brown will benefit as insurance pricing broadly increases and the company has consistently higher margins than peers. The recent weakness in its shares provided a particularly attractive opportunity for building our position.”