Brown & Brown (NYSE:BRO) Posts Earnings Results, Beats Estimates By $0.07 EPS

Brown & Brown (NYSE:BRO) issued its quarterly earnings data on Tuesday. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07, Briefing.com reports. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.22 billion. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 EPS.

Brown & Brown Price Performance

Shares of BRO stock opened at $82.13 on Thursday. The stock has a 50 day moving average of $84.30 and a two-hundred day moving average of $77.02. The company has a current ratio of 1.97, a quick ratio of 1.95 and a debt-to-equity ratio of 0.52. Brown & Brown has a 12 month low of $60.00 and a 12 month high of $87.99. The company has a market capitalization of $23.43 billion, a P/E ratio of 25.27, a P/E/G ratio of 2.49 and a beta of 0.78.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be given a $0.13 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.63%. Brown & Brown’s dividend payout ratio is currently 16.00%.

Insiders Place Their Bets

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the sale, the chairman now owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 17.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a report on Sunday, March 17th. Truist Financial increased their target price on Brown & Brown from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company increased their target price on Brown & Brown from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday. Jefferies Financial Group downgraded Brown & Brown from a “buy” rating to a “hold” rating and decreased their target price for the company from $85.00 to $78.00 in a research note on Tuesday, January 9th. Finally, Royal Bank of Canada increased their target price on Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and an average target price of $87.10.

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.