Envestnet Portfolio Solutions Inc. Purchases 10,301 Shares of Brown & Brown, Inc. (NYSE:BRO)

Envestnet Portfolio Solutions Inc. increased its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 206.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,302 shares of the financial services provider's stock after acquiring an additional 10,301 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Brown & Brown were worth $1,088,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC bought a new position in Brown & Brown during the fourth quarter valued at about $31,000. Park Place Capital Corp raised its holdings in Brown & Brown by 166.5% during the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider's stock valued at $36,000 after buying an additional 318 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Brown & Brown by 174.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider's stock valued at $39,000 after buying an additional 348 shares in the last quarter. Mendota Financial Group LLC bought a new position in Brown & Brown during the fourth quarter valued at about $42,000. Finally, Orion Capital Management LLC bought a new position in Brown & Brown during the third quarter valued at about $56,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the firm's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the transaction, the chairman now owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 16.43% of the company's stock.

Brown & Brown Stock Performance

BRO stock traded up $0.03 during trading on Monday, reaching $89.86. 1,034,827 shares of the stock were exchanged, compared to its average volume of 1,323,338. Brown & Brown, Inc. has a twelve month low of $61.71 and a twelve month high of $89.98. The company has a market capitalization of $25.63 billion, a P/E ratio of 27.65, a price-to-earnings-growth ratio of 2.46 and a beta of 0.79. The stock has a 50 day simple moving average of $84.79 and a 200-day simple moving average of $79.11. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.07. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The company's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. As a group, sell-side analysts anticipate that Brown & Brown, Inc. will post 3.61 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Friday, May 3rd. Brown & Brown's dividend payout ratio is 16.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BRO shares. Truist Financial raised their target price on Brown & Brown from $92.00 to $94.00 and gave the company a "buy" rating in a report on Wednesday, April 24th. Raymond James raised their price target on Brown & Brown from $90.00 to $95.00 and gave the company an "outperform" rating in a research report on Tuesday, March 26th. Royal Bank of Canada raised their price target on Brown & Brown from $87.00 to $95.00 and gave the company an "outperform" rating in a research report on Wednesday, March 20th. Wells Fargo & Company raised their price target on Brown & Brown from $84.00 to $85.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 24th. Finally, Citigroup raised their price target on Brown & Brown from $89.00 to $94.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Brown & Brown has an average rating of "Hold" and an average price target of $87.30.

Brown & Brown Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.