Envestnet Portfolio Solutions Inc. Sells 5,525 Shares of Brown & Brown, Inc. (NYSE:BRO)

Envestnet Portfolio Solutions Inc. decreased its position in Brown & Brown, Inc. (NYSE:BRO) by 33.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,134 shares of the financial services provider’s stock after selling 5,525 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Brown & Brown were worth $1,136,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BRO. Mogy Joel R Investment Counsel Inc. increased its stake in shares of Brown & Brown by 324.3% in the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock worth $1,967,000 after acquiring an additional 14,740 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Brown & Brown by 4.4% during the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock valued at $18,104,000 after purchasing an additional 6,805 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Brown & Brown by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock worth $138,394,000 after purchasing an additional 40,881 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Brown & Brown by 19.9% in the 4th quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock worth $31,055,000 after buying an additional 50,510 shares during the last quarter. Finally, Silphium Asset Management Ltd increased its position in Brown & Brown by 27.5% during the 4th quarter. Silphium Asset Management Ltd now owns 48,776 shares of the financial services provider’s stock valued at $4,976,000 after buying an additional 10,530 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

BRO has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada raised their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Bank of America upped their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods reduced their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Finally, Morgan Stanley assumed coverage on Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $113.17.

Brown & Brown Stock Down 1.2 %

BRO stock opened at $118.38 on Friday. The company has a market cap of $33.85 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The business’s 50-day moving average is $111.55 and its two-hundred day moving average is $107.69. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $121.25.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is presently 17.34%.

Brown & Brown Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.