Brown & Brown, Inc. (NYSE:BRO) – Investment analysts at William Blair increased their FY2020 earnings estimates for Brown & Brown in a research note issued to investors on Tuesday, July 28th. William Blair analyst A. Klauber now expects that the financial services provider will post earnings of $1.54 per share for the year, up from their prior forecast of $1.42.
Brown & Brown (NYSE:BRO) last released its earnings results on Monday, July 27th. The financial services provider reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.06. Brown & Brown had a return on equity of 12.54% and a net margin of 17.69%. The business had revenue of $598.20 million for the quarter, compared to the consensus estimate of $576.26 million. During the same period in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year.
Several other research firms also recently commented on BRO. SunTrust Banks boosted their target price on Brown & Brown from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley boosted their target price on Brown & Brown from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Wednesday. Royal Bank of Canada boosted their target price on Brown & Brown from $38.00 to $44.00 and gave the stock a “sector perform” rating in a report on Wednesday. They noted that the move was a valuation call. Finally, Credit Suisse Group restated a “hold” rating and issued a $38.00 price target on shares of Brown & Brown in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Brown & Brown currently has an average rating of “Hold” and a consensus price target of $41.71.
Brown & Brown stock opened at $45.47 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The business’s fifty day simple moving average is $42.04 and its two-hundred day simple moving average is $40.83. Brown & Brown has a 12 month low of $30.70 and a 12 month high of $48.69. The company has a market capitalization of $12.89 billion, a price-to-earnings ratio of 29.15 and a beta of 0.68.
Several hedge funds have recently bought and sold shares of the company. Fred Alger Management LLC boosted its stake in shares of Brown & Brown by 90.9% in the first quarter. Fred Alger Management LLC now owns 800 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 381 shares during the period. Allred Capital Management LLC boosted its position in Brown & Brown by 43.0% during the 1st quarter. Allred Capital Management LLC now owns 1,210 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 364 shares in the last quarter. Column Capital Advisors LLC bought a new stake in Brown & Brown during the 1st quarter valued at $46,000. Trust Co. of Vermont acquired a new stake in shares of Brown & Brown in the 1st quarter worth $51,000. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of Brown & Brown by 99.1% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 2,146 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 1,068 shares in the last quarter. Hedge funds and other institutional investors own 71.15% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Wednesday, August 5th will be paid a $0.085 dividend. This represents a $0.34 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Tuesday, August 4th. Brown & Brown’s dividend payout ratio is currently 24.29%.
About Brown & Brown
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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