Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by Natixis Advisors L.P.

Natixis Advisors L.P. raised its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 36.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,056 shares of the financial services provider’s stock after acquiring an additional 42,337 shares during the quarter. Natixis Advisors L.P. owned approximately 0.06% of Brown & Brown worth $11,381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BRO. Commonwealth Equity Services LLC raised its position in shares of Brown & Brown by 3.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 105,268 shares of the financial services provider’s stock worth $7,352,000 after purchasing an additional 3,649 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Brown & Brown by 18.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 18,140 shares of the financial services provider’s stock worth $1,267,000 after acquiring an additional 2,767 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Brown & Brown by 10.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 37,122 shares of the financial services provider’s stock valued at $2,593,000 after acquiring an additional 3,360 shares in the last quarter. Forsta AP Fonden boosted its stake in shares of Brown & Brown by 8.8% during the third quarter. Forsta AP Fonden now owns 39,700 shares of the financial services provider’s stock valued at $2,773,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Brown & Brown by 2.7% during the third quarter. Mackenzie Financial Corp now owns 19,540 shares of the financial services provider’s stock valued at $1,354,000 after acquiring an additional 508 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Buying and Selling at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the sale, the chairman now owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.43% of the stock is currently owned by corporate insiders.

Brown & Brown Trading Up 1.2 %

BRO stock opened at $85.26 on Wednesday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.52. The company has a market cap of $24.32 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 2.28 and a beta of 0.79. The business has a fifty day simple moving average of $84.20 and a 200-day simple moving average of $77.91. Brown & Brown, Inc. has a 52 week low of $61.71 and a 52 week high of $87.99.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 earnings per share. On average, equities research analysts expect that Brown & Brown, Inc. will post 3.62 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be issued a $0.13 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.52 annualized dividend and a yield of 0.61%. Brown & Brown’s payout ratio is 16.00%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BRO shares. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a research note on Sunday, March 17th. Royal Bank of Canada boosted their price objective on shares of Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods raised their target price on shares of Brown & Brown from $80.00 to $82.00 and gave the stock an “underperform” rating in a research report on Friday, May 3rd. Jefferies Financial Group cut shares of Brown & Brown from a “buy” rating to a “hold” rating and lowered their target price for the stock from $85.00 to $78.00 in a research note on Tuesday, January 9th. Finally, Truist Financial increased their price target on Brown & Brown from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $87.30.

Brown & Brown Company 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.