Brown & Brown (NYSE:BRO) issued its quarterly earnings results on Sunday. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03, MarketWatch Earnings reports. Brown & Brown had a return on equity of 13.26% and a net margin of 18.02%. The company had revenue of $642.10 million for the quarter, compared to analysts’ expectations of $601.34 million. During the same period last year, the firm earned $0.28 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis.
Shares of Brown & Brown stock traded down $2.07 during midday trading on Tuesday, hitting $45.66. The company’s stock had a trading volume of 69,088 shares, compared to its average volume of 933,169. The firm has a market capitalization of $12.97 billion, a P/E ratio of 29.46 and a beta of 0.66. The stock has a 50-day simple moving average of $46.45 and a 200-day simple moving average of $45.70. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.55. Brown & Brown has a 1-year low of $30.70 and a 1-year high of $48.76.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 17th. Stockholders of record on Friday, February 5th will be given a $0.0925 dividend. The ex-dividend date of this dividend is Thursday, February 4th. This represents a $0.37 annualized dividend and a dividend yield of 0.81%. Brown & Brown’s dividend payout ratio (DPR) is presently 26.43%.
Several equities research analysts have recently weighed in on BRO shares. Deutsche Bank Aktiengesellschaft raised their price objective on Brown & Brown from $47.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, December 14th. Keefe, Bruyette & Woods raised Brown & Brown from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $50.00 to $54.00 in a research note on Monday, January 18th. Morgan Stanley raised their price objective on Brown & Brown from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 12th. Zacks Investment Research lowered Brown & Brown from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research note on Tuesday, January 12th. Finally, Credit Suisse Group raised their price objective on Brown & Brown from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, December 31st. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Brown & Brown presently has a consensus rating of “Hold” and a consensus price target of $48.50.
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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