Envestnet Portfolio Solutions Inc. Has $1.09 Million Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Envestnet Portfolio Solutions Inc. trimmed its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 21.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,766 shares of the financial services provider's stock after selling 2,368 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Brown & Brown were worth $1,091,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BRO. Kohmann Bosshard Financial Services LLC bought a new stake in Brown & Brown during the fourth quarter valued at $28,000. Johnson Financial Group Inc. lifted its holdings in Brown & Brown by 534.1% in the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock worth $29,000 after acquiring an additional 235 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in Brown & Brown by 581.8% in the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 256 shares during the period. SBI Securities Co. Ltd. acquired a new position in Brown & Brown in the fourth quarter valued at approximately $37,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Brown & Brown by 79.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 490 shares of the financial services provider's stock valued at $50,000 after purchasing an additional 217 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Truist Financial reduced their price objective on Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Morgan Stanley restated an "equal weight" rating and set a $128.00 price target on shares of Brown & Brown in a research report on Tuesday, March 25th. The Goldman Sachs Group downgraded shares of Brown & Brown from a "buy" rating to a "neutral" rating and cut their price objective for the company from $126.00 to $119.00 in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods boosted their target price on shares of Brown & Brown from $100.00 to $102.00 and gave the company an "underperform" rating in a research note on Friday, June 13th. Finally, Jefferies Financial Group raised their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Brown & Brown currently has a consensus rating of "Hold" and an average price target of $118.85.

Brown & Brown Price Performance

Shares of Brown & Brown stock traded down $2.56 during trading on Wednesday, hitting $108.39. The stock had a trading volume of 2,924,329 shares, compared to its average volume of 1,714,531. The business has a fifty day moving average of $111.19 and a two-hundred day moving average of $110.94. Brown & Brown, Inc. has a fifty-two week low of $88.31 and a fifty-two week high of $125.68. The firm has a market cap of $31.07 billion, a P/E ratio of 30.19, a PEG ratio of 2.45 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.52 and a quick ratio of 2.52.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.77% and a net margin of 20.84%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the firm posted $1.14 earnings per share. Brown & Brown's revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's payout ratio is 16.71%.

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.