Brown & Brown, Inc. (NYSE:BRO) Stock Position Raised by Natixis

Natixis raised its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 1,185.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,024 shares of the financial services provider’s stock after purchasing an additional 26,766 shares during the quarter. Natixis’ holdings in Brown & Brown were worth $2,961,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BRO. Mogy Joel R Investment Counsel Inc. boosted its position in Brown & Brown by 324.3% during the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock worth $1,967,000 after acquiring an additional 14,740 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Brown & Brown by 395.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider’s stock valued at $3,489,000 after purchasing an additional 27,297 shares in the last quarter. National Bank of Canada FI grew its position in Brown & Brown by 56.8% during the fourth quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider’s stock valued at $19,365,000 after purchasing an additional 68,745 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Brown & Brown by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock valued at $138,394,000 after buying an additional 40,881 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Brown & Brown by 19.9% during the 4th quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock valued at $31,055,000 after buying an additional 50,510 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada lifted their price target on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley restated an “equal weight” rating and issued a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. Jefferies Financial Group boosted their target price on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. Finally, Truist Financial lifted their price objective on shares of Brown & Brown from $118.00 to $138.00 and gave the company a “buy” rating in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $117.50.

Brown & Brown Trading Down 3.1 %

Brown & Brown stock opened at $113.58 on Tuesday. Brown & Brown, Inc. has a 12 month low of $80.87 and a 12 month high of $125.68. The stock has a market cap of $32.48 billion, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. The business has a 50 day moving average price of $117.53 and a two-hundred day moving average price of $110.19. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS 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%. As a group, equities analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.53%. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

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.