Brown & Brown (NYSE:BRO – Get Free Report) announced its quarterly earnings results on Tuesday. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.07, Briefing.com reports. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the business earned $0.84 EPS. Brown & Brown’s revenue for the quarter was up 12.7% compared to the same quarter last year.
Brown & Brown Trading Down 0.2 %
NYSE:BRO traded down $0.16 during trading hours on Thursday, reaching $81.97. 250,729 shares of the stock were exchanged, compared to its average volume of 1,328,381. The company has a quick ratio of 1.95, a current ratio of 1.97 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average of $84.30 and a two-hundred day moving average of $77.02. Brown & Brown has a twelve month low of $61.71 and a twelve month high of $87.99. The company has a market capitalization of $23.39 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 2.49 and a beta of 0.78.
Brown & Brown Announces Dividend
The company also recently declared 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 of this dividend is Friday, May 3rd. Brown & Brown’s dividend payout ratio (DPR) is 16.00%.
Analyst Upgrades and Downgrades
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Insiders Place Their Bets
In other news, Chairman Hyatt J. Brown sold 144,323 shares of the company’s 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 sale, the chairman now owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.02% of the stock is owned by insiders.
About Brown & Brown
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.
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