Brown & Brown, Inc. (NYSE:BRO) Position Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 6.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 801,194 shares of the financial services provider's stock after purchasing an additional 46,638 shares during the period. Envestnet Asset Management Inc. owned approximately 0.28% of Brown & Brown worth $99,669,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Johnson Financial Group Inc. increased its holdings in shares of Brown & Brown by 534.1% during the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 235 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of Brown & Brown by 581.8% during the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 256 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Brown & Brown during the fourth quarter valued at $37,000. Garde Capital Inc. acquired a new position in shares of Brown & Brown during the first quarter valued at $46,000. Finally, EverSource Wealth Advisors LLC increased 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 period. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Trading Down 1.0%

NYSE BRO traded down $1.08 on Friday, hitting $106.73. 2,415,776 shares of the company were exchanged, compared to its average volume of 1,890,293. The company's 50 day moving average price is $109.61 and its 200-day moving average price is $111.33. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.52 and a quick ratio of 2.52. The firm has a market capitalization of $30.60 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 2.36 and a beta of 0.82. Brown & Brown, Inc. has a twelve month low of $92.11 and a twelve month high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a return on equity of 17.77% and a net margin of 20.84%. Brown & Brown's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 EPS. Analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.56%. Brown & Brown's payout ratio is presently 16.71%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Edward Jones assumed coverage on Brown & Brown in a report on Wednesday, April 16th. They set a "buy" rating on the stock. Jefferies Financial Group lifted their target price on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $127.00 target price (up from $125.00) on shares of Brown & Brown in a report on Thursday, June 12th. UBS Group lifted their target price on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, April 9th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $122.00 target price (up from $116.00) on shares of Brown & Brown in a report on Thursday, June 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $118.23.

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.