Brown & Brown (NYSE:BRO) Releases Earnings Results

by · The Markets Daily

Brown & Brown (NYSE:BRO – Get Free Report) released its quarterly earnings data on Monday. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03, Briefing.com reports. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business posted $0.71 EPS. The company’s revenue was up 11.0% on a year-over-year basis.

Brown & Brown Trading Up 0.8 %

BRO traded up $0.80 during trading hours on Wednesday, reaching $105.84. The company’s stock had a trading volume of 1,611,857 shares, compared to its average volume of 1,328,364. Brown & Brown has a fifty-two week low of $68.42 and a fifty-two week high of $107.67. The stock has a market cap of $30.19 billion, a PE ratio of 30.23, a P/E/G ratio of 2.45 and a beta of 0.83. The business’s 50-day moving average is $104.09 and its 200-day moving average is $95.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, November 6th. 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 yield of 0.57%. Brown & Brown’s dividend payout ratio is currently 14.94%.

Insider Activity at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the company’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. In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the transaction, the chief financial officer now owns 88,445 shares in the company, valued at $8,872,802.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.43% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BRO shares. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Wells Fargo & Company lifted their price target on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Barclays started coverage on Brown & Brown in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 price target for the company. Bank of America lifted their price target on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods boosted their price objective on Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $106.50.

Get Our Latest Analysis on Brown & Brown

About Brown & Brown

(Get Free Report)

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.

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