Equities research analysts predict that Brown & Brown, Inc. (NYSE:BRO) will report earnings per share of $0.38 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Brown & Brown’s earnings, with the highest EPS estimate coming in at $0.39 and the lowest estimate coming in at $0.35. Brown & Brown also posted earnings per share of $0.38 in the same quarter last year. The company is expected to announce its next quarterly earnings report on Monday, October 28th.
According to Zacks, analysts expect that Brown & Brown will report full-year earnings of $1.39 per share for the current fiscal year, with EPS estimates ranging from $1.37 to $1.42. For the next year, analysts expect that the company will report earnings of $1.50 per share, with EPS estimates ranging from $1.46 to $1.55. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Brown & Brown.
Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $575.20 million for the quarter, compared to analyst estimates of $554.35 million. Brown & Brown had a return on equity of 12.64% and a net margin of 17.28%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share.
A number of analysts have recently commented on BRO shares. Raymond James boosted their price target on Brown & Brown from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Morgan Stanley boosted their price target on Brown & Brown from $30.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, July 25th. ValuEngine lowered Brown & Brown from a “hold” rating to a “sell” rating in a report on Thursday. Wells Fargo & Co restated a “hold” rating and issued a $28.00 price target on shares of Brown & Brown in a report on Sunday, April 21st. Finally, SunTrust Banks boosted their price target on Brown & Brown to $40.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $31.50.
In other news, Director H Palmer Proctor, Jr. bought 5,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were bought at an average price of $35.96 per share, with a total value of $179,800.00. Following the completion of the transaction, the director now owns 29,353 shares of the company’s stock, valued at $1,055,533.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.69% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Qube Research & Technologies Ltd bought a new stake in Brown & Brown during the second quarter worth $308,000. Swiss National Bank lifted its stake in shares of Brown & Brown by 1.1% in the 2nd quarter. Swiss National Bank now owns 442,400 shares of the financial services provider’s stock valued at $14,820,000 after acquiring an additional 4,700 shares during the last quarter. Comerica Bank lifted its stake in shares of Brown & Brown by 3.6% in the 2nd quarter. Comerica Bank now owns 153,604 shares of the financial services provider’s stock valued at $5,364,000 after acquiring an additional 5,346 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Brown & Brown by 4.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 69,596 shares of the financial services provider’s stock valued at $2,331,000 after acquiring an additional 3,211 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of Brown & Brown by 3.1% in the 2nd quarter. Stephens Inc. AR now owns 43,784 shares of the financial services provider’s stock valued at $1,467,000 after acquiring an additional 1,319 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors.
Shares of Brown & Brown stock traded down $0.04 during trading on Friday, reaching $35.85. The stock had a trading volume of 926,897 shares, compared to its average volume of 1,043,211. The company has a market cap of $10.09 billion, a P/E ratio of 29.15, a price-to-earnings-growth ratio of 2.58 and a beta of 0.72. The business’s fifty day simple moving average is $34.48. Brown & Brown has a 52 week low of $25.72 and a 52 week high of $36.71. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.45.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Tuesday, August 6th. Brown & Brown’s dividend payout ratio (DPR) is presently 26.02%.
Brown & Brown Company Profile
Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.
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