Brown & Brown, Inc. (NYSE:BRO) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 32.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,636 shares of the financial services provider's stock after selling 13,820 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Brown & Brown were worth $3,562,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Brown & Brown during the 4th quarter worth about $28,000. Johnson Financial Group Inc. grew its holdings in shares of Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock worth $29,000 after purchasing an additional 235 shares during the period. Sunbelt Securities Inc. increased its position in Brown & Brown by 581.8% during the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock worth $31,000 after purchasing an additional 256 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Brown & Brown during the 4th quarter worth approximately $37,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Brown & Brown by 79.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 490 shares of the financial services provider's stock valued at $50,000 after buying an additional 217 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BRO has been the subject of several research reports. Jefferies Financial Group boosted their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods lifted their target price on shares of Brown & Brown from $100.00 to $102.00 and gave the company an "underperform" rating in a report on Friday, June 13th. BMO Capital Markets reiterated an "outperform" rating and issued a $122.00 price target (up from $116.00) on shares of Brown & Brown in a report on Thursday, June 12th. Barclays raised their price objective on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $127.00 price objective (up previously from $125.00) on shares of Brown & Brown in a research note on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $118.85.

Brown & Brown Stock Up 0.4%

NYSE BRO traded up $0.47 during mid-day trading on Friday, reaching $109.74. 12,687,961 shares of the company's stock traded hands, compared to its average volume of 1,772,938. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. Brown & Brown, Inc. has a 1-year low of $88.31 and a 1-year high of $125.68. The company has a fifty day simple moving average of $110.83 and a 200-day simple moving average of $110.95. The company has a market cap of $31.46 billion, a price-to-earnings ratio of 30.57, a P/E/G ratio of 2.38 and a beta of 0.84.

Brown & Brown (NYSE:BRO - Get Free Report) last released its 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 net margin of 20.84% and a return on equity of 17.77%. The business had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter last year, the company posted $1.14 earnings per share. The business's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

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. This represents a $0.60 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's dividend payout ratio is currently 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.