Brokerages expect that Brown & Brown, Inc. (NYSE:BRO – Get Rating) will announce $0.49 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have made estimates for Brown & Brown’s earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.50. Brown & Brown also posted earnings per share of $0.49 in the same quarter last year. The firm is expected to report its next earnings results on Monday, January 1st.
On average, analysts expect that Brown & Brown will report full year earnings of $2.28 per share for the current year, with EPS estimates ranging from $2.25 to $2.32. For the next fiscal year, analysts forecast that the firm will report earnings of $2.56 per share, with EPS estimates ranging from $2.35 to $2.65. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Brown & Brown.
Brown & Brown (NYSE:BRO – Get Rating) last posted its quarterly earnings data on Monday, April 25th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.03. Brown & Brown had a net margin of 19.35% and a return on equity of 15.53%. The company had revenue of $904.70 million for the quarter, compared to the consensus estimate of $892.56 million. During the same quarter in the previous year, the firm posted $0.70 EPS.
Several analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Brown & Brown in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Morgan Stanley decreased their target price on shares of Brown & Brown from $70.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Monday, May 23rd. Truist Financial lifted their target price on shares of Brown & Brown from $77.00 to $82.00 in a research report on Thursday, April 21st. Finally, UBS Group assumed coverage on shares of Brown & Brown in a research report on Monday, April 18th. They set a “neutral” rating and a $76.00 target price on the stock. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and a consensus target price of $70.44.
Shares of NYSE:BRO traded down $0.87 on Friday, hitting $58.74. 1,041,414 shares of the company were exchanged, compared to its average volume of 2,415,905. The company’s 50 day moving average price is $64.13 and its two-hundred day moving average price is $65.82. Brown & Brown has a one year low of $51.47 and a one year high of $74.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.80 and a current ratio of 3.80. The firm has a market capitalization of $16.58 billion, a price-to-earnings ratio of 27.45 and a beta of 0.81.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 18th. Shareholders of record on Monday, May 9th were given a $0.102 dividend. The ex-dividend date was Friday, May 6th. This represents a $0.41 dividend on an annualized basis and a yield of 0.69%. Brown & Brown’s dividend payout ratio (DPR) is presently 19.16%.
In other news, Director Lawrence L. Gellerstedt III purchased 1,800 shares of Brown & Brown stock in a transaction on Thursday, May 19th. The shares were purchased at an average cost of $54.95 per share, for a total transaction of $98,910.00. Following the completion of the transaction, the director now directly owns 12,884 shares in the company, valued at $707,975.80. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lawrence L. Gellerstedt III bought 1,670 shares of Brown & Brown stock in a transaction dated Tuesday, May 3rd. The shares were bought at an average price of $59.99 per share, for a total transaction of $100,183.30. Following the completion of the transaction, the director now directly owns 7,727 shares of the company’s stock, valued at approximately $463,542.73. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 4,294 shares of company stock worth $248,253. Company insiders own 17.02% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Brown & Brown by 0.5% during the first quarter. BlackRock Inc. now owns 19,448,540 shares of the financial services provider’s stock worth $1,405,544,000 after purchasing an additional 98,905 shares in the last quarter. Select Equity Group L.P. raised its stake in shares of Brown & Brown by 1.4% during the first quarter. Select Equity Group L.P. now owns 18,539,433 shares of the financial services provider’s stock worth $1,339,845,000 after buying an additional 263,444 shares during the last quarter. State Street Corp raised its stake in shares of Brown & Brown by 1.0% during the fourth quarter. State Street Corp now owns 12,070,204 shares of the financial services provider’s stock worth $848,294,000 after buying an additional 120,650 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Brown & Brown by 8.9% during the first quarter. Principal Financial Group Inc. now owns 8,854,266 shares of the financial services provider’s stock worth $639,898,000 after buying an additional 723,275 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Brown & Brown during the fourth quarter worth approximately $449,898,000. Institutional investors own 72.29% of the company’s stock.
Brown & Brown Company Profile (Get Rating)
Brown & Brown, Inc markets and sells insurance products and services in the United States, Bermuda, Canada, Ireland, the United Kingdom, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, loss control survey and analysis, consultancy, and claims processing services.
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