Natixis Advisors LLC Purchases 45,766 Shares of Brown & Brown, Inc. (NYSE:BRO)

Natixis Advisors LLC lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 6.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 779,434 shares of the financial services provider's stock after acquiring an additional 45,766 shares during the quarter. Natixis Advisors LLC owned approximately 0.27% of Brown & Brown worth $80,749,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Crewe Advisors LLC grew its stake in Brown & Brown by 330.4% in the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider's stock worth $27,000 after purchasing an additional 228 shares during the period. ST Germain D J Co. Inc. grew its stake in Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider's stock worth $28,000 after purchasing an additional 200 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Brown & Brown in the third quarter worth $29,000. Headlands Technologies LLC purchased a new stake in Brown & Brown in the first quarter worth $32,000. Finally, Blue Trust Inc. grew its stake in Brown & Brown by 142.3% in the second quarter. Blue Trust Inc. now owns 550 shares of the financial services provider's stock worth $48,000 after purchasing an additional 323 shares during the period. Institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Performance

Shares of BRO stock traded up $0.52 during trading hours on Friday, reaching $110.05. 1,501,946 shares of the company traded hands, compared to its average volume of 1,490,986. Brown & Brown, Inc. has a 12-month low of $69.13 and a 12-month high of $114.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market cap of $31.47 billion, a P/E ratio of 29.99, a P/E/G ratio of 2.54 and a beta of 0.82. The firm has a 50-day moving average price of $105.38 and a 200 day moving average price of $97.98.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the previous year, the firm earned $0.71 EPS. The business's quarterly revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 3.73 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.15 per share. This is a boost from Brown & Brown's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Wednesday, November 6th. Brown & Brown's payout ratio is presently 16.35%.

Insider Buying and Selling

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 17.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BRO shares. Truist Financial raised their price target on Brown & Brown from $116.00 to $118.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Barclays started coverage on Brown & Brown in a report on Wednesday, September 4th. They set an "equal weight" rating and a $108.00 price target for the company. Wells Fargo & Company raised their price target on Brown & Brown from $112.00 to $114.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. StockNews.com downgraded Brown & Brown from a "buy" rating to a "hold" rating in a report on Saturday, November 2nd. Finally, Royal Bank of Canada raised their price target on Brown & Brown from $113.00 to $118.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $106.50.

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.