Q3 2024 Earnings Forecast for Brown & Brown, Inc. Issued By William Blair (NYSE:BRO)

Brown & Brown, Inc. (NYSE:BRO) – Stock analysts at William Blair decreased their Q3 2024 earnings per share (EPS) estimates for shares of Brown & Brown in a note issued to investors on Tuesday, April 23rd. William Blair analyst A. Klauber now anticipates that the financial services provider will post earnings of $0.86 per share for the quarter, down from their prior forecast of $0.87. The consensus estimate for Brown & Brown’s current full-year earnings is $3.61 per share.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm earned $0.84 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis.

A number of other research analysts have also recently commented on BRO. Citigroup boosted their price target on Brown & Brown from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a report on Sunday, March 17th. Bank of America downgraded Brown & Brown from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $80.00 to $86.00 in a research note on Wednesday, March 13th. Truist Financial lifted their price objective on Brown & Brown from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods boosted their target price on Brown & Brown from $75.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and an average target price of $87.10.

Brown & Brown Stock Up 0.2 %

BRO stock opened at $82.27 on Friday. Brown & Brown has a twelve month low of $61.71 and a twelve month high of $87.99. The company has a quick ratio of 1.95, a current ratio of 1.97 and a debt-to-equity ratio of 0.52. The stock has a market cap of $23.47 billion, a P/E ratio of 25.31, a PEG ratio of 2.25 and a beta of 0.78. The business’s 50-day moving average price is $84.29 and its 200-day moving average price is $77.06.

Institutional Investors Weigh In On Brown & Brown

Several hedge funds have recently made changes to their positions in the company. Strategy Asset Managers LLC lifted its stake in shares of Brown & Brown by 176.9% during the 1st quarter. Strategy Asset Managers LLC now owns 12,063 shares of the financial services provider’s stock worth $1,056,000 after purchasing an additional 7,707 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Brown & Brown by 13.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 20,602 shares of the financial services provider’s stock worth $1,804,000 after purchasing an additional 2,430 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Brown & Brown by 36.8% during the 1st quarter. V Square Quantitative Management LLC now owns 3,624 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 974 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in shares of Brown & Brown during the 1st quarter worth $208,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Brown & Brown by 109.5% during the 1st quarter. Global Retirement Partners LLC now owns 1,672 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 874 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the transaction, the chairman now owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.02% of the stock is owned by company insiders.

Brown & Brown Dividend Announcement

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

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.