Natixis Advisors L.P. Has $11.38 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Natixis Advisors L.P. lifted its stake in Brown & Brown, Inc. (NYSE:BRO) by 36.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,056 shares of the financial services provider’s stock after acquiring an additional 42,337 shares during the period. Natixis Advisors L.P.’s holdings in Brown & Brown were worth $11,381,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BRO. Allspring Global Investments Holdings LLC grew its position in Brown & Brown by 0.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,236,392 shares of the financial services provider’s stock worth $372,360,000 after purchasing an additional 29,514 shares during the last quarter. Northern Trust Corp raised its holdings in Brown & Brown by 6.1% in the 3rd quarter. Northern Trust Corp now owns 2,285,511 shares of the financial services provider’s stock valued at $159,620,000 after acquiring an additional 130,647 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Brown & Brown by 15.9% in the 3rd quarter. Royal Bank of Canada now owns 1,715,645 shares of the financial services provider’s stock worth $119,821,000 after acquiring an additional 235,001 shares during the period. California Public Employees Retirement System lifted its position in shares of Brown & Brown by 0.9% in the 3rd quarter. California Public Employees Retirement System now owns 1,516,285 shares of the financial services provider’s stock worth $105,897,000 after acquiring an additional 13,477 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Brown & Brown by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,221,896 shares of the financial services provider’s stock worth $85,337,000 after purchasing an additional 16,109 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BRO shares. Royal Bank of Canada boosted their price target on shares of Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Raymond James increased their price target on shares of Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Truist Financial lifted their price objective on Brown & Brown from $92.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company increased their target price on Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 24th. Finally, UBS Group boosted their price target on Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Brown & Brown has an average rating of “Hold” and an average price target of $87.30.

Insider Buying and Selling at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the company’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.43% of the company’s stock.

Brown & Brown Stock Up 1.2 %

NYSE BRO opened at $85.26 on Wednesday. The stock’s 50 day simple moving average is $84.20 and its 200 day simple moving average is $77.91. Brown & Brown, Inc. has a one year low of $61.71 and a one year high of $87.99. The firm has a market cap of $24.32 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 2.28 and a beta of 0.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.97.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data 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. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts forecast that Brown & Brown, Inc. will post 3.62 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Friday, May 3rd. Brown & Brown’s dividend payout ratio is currently 16.00%.

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.