Brown & Brown (NYSE:BRO) Issues Earnings Results

Brown & Brown (NYSE:BRO) released its earnings results on Monday. The financial services provider reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.02), FiscalAI reports. Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.76 billion.

Brown & Brown Stock Performance

Shares of BRO traded down $1.53 during trading hours on Monday, hitting $71.44. The company’s stock had a trading volume of 5,162,604 shares, compared to its average volume of 2,933,332. The company has a market cap of $23.90 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.27 and a beta of 0.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11. The business has a 50 day simple moving average of $67.25 and a two-hundred day simple moving average of $65.13. Brown & Brown has a 52-week low of $53.81 and a 52-week high of $89.05.

Brown & Brown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 11th. Shareholders of record on Wednesday, November 4th will be given a dividend of $0.18 per share. This is a boost from Brown & Brown’s previous quarterly dividend of $0.1650. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, November 4th. Brown & Brown’s dividend payout ratio (DPR) is 20.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BRO shares. Wells Fargo & Company lowered their price target on shares of Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating on the stock in a report on Monday, October 12th. TD Cowen assumed coverage on Brown & Brown in a report on Monday, October 12th. They set a “buy” rating and a $82.00 price objective for the company. Mizuho reduced their price objective on Brown & Brown from $83.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, October 7th. Jefferies Financial Group reissued a “hold” rating on shares of Brown & Brown in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. boosted their target price on Brown & Brown from $80.00 to $83.00 and gave the company a “neutral” rating in a research note on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and a consensus target price of $76.00.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance brokerage and risk management company headquartered in Daytona Beach, Florida. The company helps businesses, public entities, individuals and other organizations identify, manage and transfer risk by arranging insurance coverage and providing related advisory services.

Its operations include retail insurance brokerage, national programs, wholesale brokerage and services. Brown & Brown offers property and casualty insurance, employee benefits, personal insurance, surety and other specialized coverage.