William Blair Comments on Brown & Brown, Inc.’s Q2 2024 Earnings (NYSE:BRO)

Brown & Brown, Inc. (NYSE:BRO) – Analysts at William Blair raised their Q2 2024 earnings per share (EPS) estimates for shares of Brown & Brown in a report released on Tuesday, April 23rd. William Blair analyst A. Klauber now anticipates that the financial services provider will post earnings per share of $0.87 for the quarter, up from their previous forecast of $0.84. The consensus estimate for Brown & Brown’s current full-year earnings is $3.57 per share. William Blair also issued estimates for Brown & Brown’s FY2024 earnings at $3.59 EPS, Q1 2025 earnings at $1.22 EPS, Q2 2025 earnings at $0.94 EPS, Q3 2025 earnings at $0.95 EPS, Q4 2025 earnings at $0.79 EPS and FY2025 earnings at $3.89 EPS.

Several other equities research analysts have also recently weighed in on the company. Citigroup increased their price objective on Brown & Brown from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Jefferies Financial Group cut Brown & Brown from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $85.00 to $78.00 in a report on Tuesday, January 9th. Bank of America cut Brown & Brown from a “neutral” rating to an “underperform” rating and raised their target price for the company from $80.00 to $86.00 in a research note on Wednesday, March 13th. UBS Group raised their target price on Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Finally, Keefe, Bruyette & Woods raised their target price on Brown & Brown from $75.00 to $80.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and an average price target of $87.10.

Brown & Brown Price Performance

Shares of Brown & Brown stock opened at $82.27 on Thursday. The company has a current ratio of 1.97, a quick ratio of 1.95 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $23.47 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78. The business’s 50-day moving average price is $84.30 and its 200-day moving average price is $77.02. Brown & Brown has a 12 month low of $61.71 and a 12 month high of $87.99.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.07 by $0.07. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.22 billion. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 EPS.

Institutional Trading of Brown & Brown

A number of institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue increased its holdings in shares of Brown & Brown by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 25,633 shares of the financial services provider’s stock worth $2,243,000 after purchasing an additional 125 shares in the last quarter. Independent Advisor Alliance increased its holdings in shares of Brown & Brown by 0.3% in the 3rd quarter. Independent Advisor Alliance now owns 51,561 shares of the financial services provider’s stock worth $3,601,000 after purchasing an additional 155 shares in the last quarter. Legacy Capital Wealth Partners LLC increased its holdings in shares of Brown & Brown by 2.6% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 6,316 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 158 shares in the last quarter. Tributary Capital Management LLC increased its holdings in shares of Brown & Brown by 1.1% in the 4th quarter. Tributary Capital Management LLC now owns 16,677 shares of the financial services provider’s stock worth $1,186,000 after purchasing an additional 174 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of Brown & Brown by 22.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,008 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 187 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of Brown & Brown stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the transaction, the chairman now owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.02% of the stock is owned by company insiders.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Friday, May 3rd. Brown & Brown’s payout ratio is 16.00%.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.