Wealth Enhancement Advisory Services LLC Sells 19,067 Shares of Brown & Brown, Inc. $BRO

Wealth Enhancement Advisory Services LLC trimmed its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 51.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,781 shares of the financial services provider’s stock after selling 19,067 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Brown & Brown were worth $1,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of BRO. Cornerstone Planning Group LLC lifted its position in Brown & Brown by 423.1% in the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 220 shares during the last quarter. Darwin Wealth Management LLC bought a new position in shares of Brown & Brown in the second quarter worth approximately $30,000. Board of the Pension Protection Fund bought a new position in shares of Brown & Brown in the fourth quarter worth approximately $40,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Brown & Brown in the second quarter worth $49,000. Finally, True Wealth Design LLC increased its stake in shares of Brown & Brown by 4,369.2% in the third quarter. True Wealth Design LLC now owns 581 shares of the financial services provider’s stock worth $54,000 after buying an additional 568 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Stock Performance

Shares of BRO stock opened at $65.91 on Friday. The firm has a market capitalization of $22.44 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.66 and a beta of 0.83. The stock has a fifty day moving average of $69.42 and a 200 day moving average of $78.68. Brown & Brown, Inc. has a 52 week low of $63.29 and a 52 week high of $125.68. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm earned $0.86 EPS. The company’s quarterly revenue was up 35.7% compared to the same quarter last year. As a group, research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, February 4th were given a dividend of $0.165 per share. The ex-dividend date was Wednesday, February 4th. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. Brown & Brown’s payout ratio is currently 20.63%.

Analyst Upgrades and Downgrades

BRO has been the subject of several analyst reports. Bank of America dropped their price target on shares of Brown & Brown from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, January 27th. BMO Capital Markets decreased their price objective on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a research report on Thursday, January 29th. UBS Group reaffirmed a “neutral” rating and set a $81.00 price objective (down from $90.00) on shares of Brown & Brown in a research note on Thursday, January 29th. Argus upgraded shares of Brown & Brown to a “hold” rating in a report on Tuesday, January 27th. Finally, Truist Financial cut their target price on Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and an average target price of $89.33.

Brown & Brown Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.