Natixis Advisors LLC Purchases 116,505 Shares of Brown & Brown, Inc. (NYSE:BRO)

Natixis Advisors LLC lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 13.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 958,273 shares of the financial services provider’s stock after buying an additional 116,505 shares during the quarter. Natixis Advisors LLC’s holdings in Brown & Brown were worth $119,209,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. First Trust Advisors LP raised its holdings in Brown & Brown by 626.6% in the 4th quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider’s stock valued at $239,751,000 after acquiring an additional 2,026,589 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Brown & Brown by 13,974.9% in the first quarter. GAMMA Investing LLC now owns 1,112,758 shares of the financial services provider’s stock worth $138,427,000 after purchasing an additional 1,104,852 shares during the period. Handelsbanken Fonder AB increased its position in shares of Brown & Brown by 172.5% in the first quarter. Handelsbanken Fonder AB now owns 1,314,434 shares of the financial services provider’s stock worth $163,516,000 after purchasing an additional 832,100 shares during the period. Balyasny Asset Management L.P. raised its stake in Brown & Brown by 9,262.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 687,095 shares of the financial services provider’s stock valued at $70,097,000 after purchasing an additional 679,756 shares in the last quarter. Finally, Capital World Investors lifted its position in Brown & Brown by 15.6% during the fourth quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider’s stock worth $428,043,000 after purchasing an additional 566,116 shares during the period. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BRO shares. Truist Financial reduced their price objective on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Barclays reduced their price target on shares of Brown & Brown from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Jefferies Financial Group boosted their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a research report on Friday, April 11th. UBS Group upped their target price on Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $127.00 price target (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 given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $118.67.

Brown & Brown Trading Down 10.4%

Shares of BRO stock opened at $91.94 on Wednesday. Brown & Brown, Inc. has a twelve month low of $91.55 and a twelve month high of $125.68. The stock’s fifty day simple moving average is $107.75 and its 200 day simple moving average is $111.47. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $26.36 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.25 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 28th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Brown & Brown had a return on equity of 17.99% and a net margin of 19.89%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm posted $0.93 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 13th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.65%. The ex-dividend date is Wednesday, August 13th. Brown & Brown’s dividend payout ratio (DPR) is currently 17.29%.

Brown & Brown Company Profile

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.