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

Envestnet Portfolio Solutions Inc. reduced its position in Brown & Brown, Inc. (NYSE:BRO) by 33.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in Brown & Brown in the 3rd quarter worth $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Brown & Brown in the fourth quarter worth about $28,000. Y.D. More Investments Ltd grew its position in shares of Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 162 shares in the last quarter. R Squared Ltd bought a new stake in Brown & Brown during the 4th quarter valued at approximately $31,000. Finally, SBI Securities Co. Ltd. purchased a new position in Brown & Brown in the 4th quarter worth approximately $37,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Stock Down 1.2 %

Shares of BRO opened at $118.38 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $121.25. The company has a market cap of $33.85 billion, a PE ratio of 34.21, a P/E/G ratio of 2.93 and a beta of 0.86. The business has a fifty day moving average of $111.55 and a 200 day moving average of $107.69.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, sell-side analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently announced 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. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.51%. Brown & Brown’s dividend payout ratio is 17.34%.

Wall Street Analyst Weigh In

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

About Brown & Brown

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.