Envestnet Asset Management Inc. Sells 41,555 Shares of Brown & Brown, Inc. (NYSE:BRO)

Envestnet Asset Management Inc. lessened its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 754,556 shares of the financial services provider's stock after selling 41,555 shares during the quarter. Envestnet Asset Management Inc. owned 0.26% of Brown & Brown worth $76,980,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Brown & Brown by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock worth $3,054,493,000 after buying an additional 1,335,964 shares during the period. Principal Financial Group Inc. increased its stake in Brown & Brown by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider's stock worth $1,316,259,000 after purchasing an additional 94,121 shares during the period. Geode Capital Management LLC lifted its position in Brown & Brown by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider's stock valued at $620,737,000 after purchasing an additional 118,569 shares during the last quarter. Norges Bank purchased a new stake in shares of Brown & Brown during the fourth quarter valued at approximately $313,412,000. Finally, Barclays PLC grew its holdings in shares of Brown & Brown by 17.8% in the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock worth $255,537,000 after purchasing an additional 371,980 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Stock Up 2.0 %

NYSE:BRO traded up $2.33 during mid-day trading on Monday, hitting $121.19. 287,872 shares of the company's stock were exchanged, compared to its average volume of 1,766,823. The company has a market cap of $34.65 billion, a PE ratio of 35.03, a P/E/G ratio of 2.93 and a beta of 0.75. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $125.68. The business has a fifty day moving average price of $116.39 and a 200 day moving average price of $109.63.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Equities analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.50%. Brown & Brown's dividend payout ratio is currently 17.34%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BRO. UBS Group increased their price target on shares of Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods increased their target price on shares of Brown & Brown from $97.00 to $102.00 and gave the stock an "underperform" rating in a report on Wednesday, April 9th. Wells Fargo & Company boosted their price target on Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Barclays increased their price objective on Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, Bank of America upped their target price on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $115.83.

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.