Brown & Brown, Inc. (NYSE:BRO) to Issue $0.17 Quarterly Dividend

Brown & Brown, Inc. (NYSE:BRO) announced a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Wednesday, August 12th will be given 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 1.0%. The ex-dividend date of this dividend 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 dividend payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Brown & Brown to earn $4.87 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 Trading Down 1.9%

BRO stock opened at $65.39 on Thursday. The company has a market cap of $22.16 billion, a P/E ratio of 21.03, a PEG ratio of 3.08 and a beta of 0.60. Brown & Brown has a twelve month low of $53.81 and a twelve month high of $104.25. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $61.85 and a 200-day moving average of $66.82.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The firm’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 earnings per share. As a group, equities research analysts expect that Brown & Brown will post 4.5 EPS for the current year.

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.