Brown & Brown, Inc. (BRO) to Distribute Quarterly Dividend of $0.18 on November 11th

Brown & Brown, Inc. (NYSE:BRO) declared a quarterly dividend on Wednesday, October 21st. Shareholders of record on Wednesday, November 4th will be paid a dividend of $0.18 per share by the financial services provider on Wednesday, November 11th. This represents a $0.72 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, November 4th. This is a 9.1% increase from Brown & Brown’s previous quarterly dividend of $0.1650.

Brown & Brown has raised its dividend payment by an average of 0.1% per year over the last three years. Brown & Brown has a payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Brown & Brown to earn $4.84 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 14.9%.

Brown & Brown Stock Down 0.0%

BRO opened at $69.73 on Monday. The company has a market capitalization of $23.13 billion, a PE ratio of 22.07, a PEG ratio of 2.28 and a beta of 0.52. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.58. The firm’s 50 day simple moving average is $67.03 and its two-hundred day simple moving average is $66.84. Brown & Brown has a 1-year low of $53.81 and a 1-year high of $82.57.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 26th. The financial services provider reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Brown & Brown had a return on equity of 13.29% and a net margin of 17.63%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share. As a group, equities analysts forecast that Brown & Brown will post 4.47 EPS for the current year.

Institutional Trading of Brown & Brown

A number of institutional investors and hedge funds have recently bought and sold shares of BRO. Chicago Partners Investment Group LLC purchased a new stake in shares of Brown & Brown in the third quarter worth about $236,000. Rakuten Investment Management Inc. grew its position in shares of Brown & Brown by 8.8% during the third quarter. Rakuten Investment Management Inc. now owns 51,673 shares of the financial services provider’s stock worth $3,131,000 after buying an additional 4,161 shares in the last quarter. Provenance Wealth Advisors LLC bought a new position in Brown & Brown during the 3rd quarter valued at $58,000. Cortland Associates Inc. MO grew its stake in Brown & Brown by 98.1% in the third quarter. Cortland Associates Inc. MO now owns 353,820 shares of the financial services provider’s stock worth $21,548,000 after purchasing an additional 175,188 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Brown & Brown in the 3rd quarter valued at approximately $6,140,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

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.