Brown & Brown, Inc. (NYSE:BRO) announced a quarterly dividend on Friday, January 19th, RTT News reports. Stockholders of record on Friday, February 2nd will be given a dividend of 0.15 per share by the financial services provider on Wednesday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Thursday, February 1st.
Brown & Brown has increased its dividend payment by an average of 10.6% annually over the last three years and has increased its dividend every year for the last 17 years. Brown & Brown has a dividend payout ratio of 31.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Brown & Brown to earn $2.62 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 22.9%.
Brown & Brown (NYSE:BRO) opened at $52.44 on Thursday. Brown & Brown has a 1 year low of $41.10 and a 1 year high of $53.77. The company has a quick ratio of 0.97, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. The company has a market cap of $7,190.00, a PE ratio of 27.31, a price-to-earnings-growth ratio of 2.14 and a beta of 0.73.
Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 22nd. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. The firm had revenue of $474.30 million during the quarter, compared to analysts’ expectations of $449.89 million. Brown & Brown had a net margin of 21.24% and a return on equity of 11.19%. Brown & Brown’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. sell-side analysts forecast that Brown & Brown will post 2.39 earnings per share for the current year.
BRO has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on shares of Brown & Brown from $40.00 to $43.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 18th. Zacks Investment Research lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Citigroup lowered shares of Brown & Brown from a “neutral” rating to a “sell” rating and set a $47.00 target price for the company. in a research note on Wednesday, November 8th. SunTrust Banks upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. Finally, Langen Mcalenn restated a “buy” rating on shares of Brown & Brown in a report on Tuesday, January 16th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Brown & Brown currently has a consensus rating of “Hold” and an average price target of $48.63.
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Brown & Brown Company Profile
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.
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