Brown & Brown (NYSE:BRO) Announces Quarterly Earnings Results

Brown & Brown (NYSE:BRO) issued its quarterly earnings results on Monday. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.05, RTT News reports. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. Brown & Brown had a return on equity of 17.40% and a net margin of 21.95%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share.

Brown & Brown Price Performance

NYSE BRO traded down $0.49 during trading on Wednesday, reaching $97.56. 1,728,873 shares of the company traded hands, compared to its average volume of 1,261,714. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.97 and a current ratio of 1.97. The stock’s 50 day moving average price is $90.75 and its two-hundred day moving average price is $85.09. The company has a market cap of $27.83 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 2.47 and a beta of 0.82. Brown & Brown has a 1-year low of $66.73 and a 1-year high of $99.08.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Wednesday, August 7th. Brown & Brown’s payout ratio is 16.00%.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, EVP Julie Turpin sold 3,350 shares of Brown & Brown stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $89.92, for a total transaction of $301,232.00. Following the sale, the executive vice president now directly owns 23,597 shares of the company’s stock, valued at $2,121,842.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 17.02% of the company’s stock.

Analyst Ratings Changes

BRO has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Brown & Brown from $88.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Wednesday. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th. Royal Bank of Canada lifted their price objective on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup lifted their price objective on Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, Keefe, Bruyette & Woods lifted their target price on Brown & Brown from $80.00 to $82.00 and gave the stock an “underperform” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $94.90.

About Brown & Brown

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.