Brown & Brown (NYSE:BRO) Announces Quarterly Earnings Results

Brown & Brown (NYSE:BRO) announced its quarterly earnings data on Monday. The financial services provider reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01), Zacks reports. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%.

Brown & Brown Stock Performance

BRO stock opened at $114.86 on Tuesday. The company has a market capitalization of $32.84 billion, a P/E ratio of 33.20, a PEG ratio of 2.93 and a beta of 0.75. The business has a 50-day moving average price of $118.08 and a 200 day moving average price of $110.62. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown has a 1-year low of $80.91 and a 1-year high of $125.68.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 12th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.52%. Brown & Brown’s dividend payout ratio is presently 17.34%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BRO. Jefferies Financial Group boosted their price objective on Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a report on Friday, April 11th. Wells Fargo & Company raised their target price on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada increased their price target on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Edward Jones started coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They set a “buy” rating on the stock. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Brown & Brown currently has an average rating of “Hold” and a consensus target price of $117.50.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.