Brown & Brown, Inc. Declares Quarterly Dividend of $0.15 (NYSE:BRO)

Brown & Brown, Inc. (NYSE:BRO) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Wednesday, February 5th will be paid a dividend of 0.15 per share by the financial services provider on Wednesday, February 12th. This represents a $0.60 annualized dividend and a dividend yield of 0.57%.

Brown & Brown has a payout ratio of 12.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Brown & Brown to earn $4.11 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 12.7%.

Brown & Brown Trading Down 0.4 %

Shares of Brown & Brown stock opened at $105.22 on Thursday. The company’s fifty day simple moving average is $105.92 and its 200-day simple moving average is $103.59. The company has a market cap of $30.09 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 2.12 and a beta of 0.85. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown has a 1 year low of $75.79 and a 1 year high of $114.15.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company earned $0.71 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Brown & Brown will post 3.74 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Truist Financial boosted their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their target price on shares of Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, 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 report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Brown & Brown currently has an average rating of “Hold” and a consensus price target of $112.08.

Brown & Brown Company Profile

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.