Brown & Brown, Inc. (BRO) To Go Ex-Dividend on August 12th

Brown & Brown, Inc. (NYSE:BRO) announced a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Wednesday, August 12th will be paid a dividend of 0.165 per share by the financial services provider on Wednesday, August 19th. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, August 12th.

Brown & Brown has increased its dividend payment by an average of 0.1%per year over the last three years. Brown & Brown has a payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Brown & Brown to earn $4.86 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 13.6%.

Brown & Brown Price Performance

NYSE:BRO opened at $71.37 on Monday. The business’s 50-day moving average is $65.08 and its 200 day moving average is $66.07. Brown & Brown has a 12 month low of $53.81 and a 12 month high of $98.30. The company has a market capitalization of $23.88 billion, a P/E ratio of 22.51, a P/E/G ratio of 3.56 and a beta of 0.59. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.58.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the business earned $1.03 EPS. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. On average, equities research analysts forecast that Brown & Brown will post 4.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings cut shares of Brown & Brown from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 23rd. Barclays lifted their target price on Brown & Brown from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Bank of America lowered their price target on Brown & Brown from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Brown & Brown in a research note on Wednesday, July 29th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $76.47.

About Brown & Brown

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.