Natixis Advisors LLC boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 841,768 shares of the financial services provider's stock after purchasing an additional 62,334 shares during the period. Natixis Advisors LLC owned about 0.29% of Brown & Brown worth $85,877,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Studio Investment Management LLC increased its holdings in Brown & Brown by 1.5% during the 3rd quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider's stock worth $675,000 after purchasing an additional 96 shares in the last quarter. Journey Strategic Wealth LLC grew its holdings in shares of Brown & Brown by 2.3% in the 4th quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider's stock valued at $458,000 after acquiring an additional 99 shares in the last quarter. CWA Asset Management Group LLC grew its holdings in shares of Brown & Brown by 3.7% in the 4th quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider's stock valued at $297,000 after acquiring an additional 103 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Brown & Brown by 3.4% in the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider's stock valued at $323,000 after acquiring an additional 103 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Brown & Brown by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 4,664 shares of the financial services provider's stock valued at $476,000 after acquiring an additional 113 shares in the last quarter. Institutional investors own 71.01% of the company's stock.
Brown & Brown Price Performance
NYSE:BRO traded up $0.33 during mid-day trading on Wednesday, reaching $119.52. The stock had a trading volume of 197,510 shares, compared to its average volume of 1,282,036. The stock has a 50-day simple moving average of $110.53 and a two-hundred day simple moving average of $107.41. The stock has a market capitalization of $34.17 billion, a PE ratio of 34.56, a P/E/G ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $121.25.
Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.
Brown & Brown Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.50%. Brown & Brown's payout ratio is presently 17.34%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on BRO. Bank of America raised their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Royal Bank of Canada raised their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Barclays raised their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the company an "equal weight" rating in a research note on Thursday, November 21st. Wells Fargo & Company raised their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley started coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They issued an "overweight" rating and a $134.00 target price for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $113.17.
Get Our Latest Stock Analysis on Brown & Brown
Brown & Brown Company Profile
(
Free Report)
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.
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