Brown & Brown Inc. (NYSE:BRO) will be releasing its Q316 earnings data on Monday, October 17th. Analysts expect Brown & Brown to post earnings of $0.49 per share and revenue of $455.56 million for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.
Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, July 18th. The company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.05. The firm earned $446.50 million during the quarter, compared to analyst estimates of $439.70 million. Brown & Brown had a return on equity of 11.68% and a net margin of 14.87%. During the same period last year, the company earned $0.43 earnings per share. On average, analysts expect Brown & Brown to post $1.81 EPS for the current fiscal year and $1.92 EPS for the next fiscal year.
Shares of Brown & Brown Inc. (NYSE:BRO) opened at 37.51 on Friday. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 20.96 and a beta of 0.93. Brown & Brown Inc. has a 12 month low of $28.41 and a 12 month high of $38.69. The company has a 50-day moving average price of $37.48 and a 200-day moving average price of $36.34.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 9th. Investors of record on Friday, October 28th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 1.44%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.12. Brown & Brown’s dividend payout ratio (DPR) is currently 27.37%.
In other Brown & Brown news, EVP Robert W. Lloyd sold 2,971 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $37.32, for a total value of $110,877.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 17.49% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake in Brown & Brown by 2.0% in the second quarter. FMR LLC now owns 5,491,143 shares of the company’s stock worth $205,753,000 after buying an additional 107,098 shares in the last quarter. BlackRock Fund Advisors increased its stake in Brown & Brown by 5.1% in the second quarter. BlackRock Fund Advisors now owns 4,104,836 shares of the company’s stock worth $153,808,000 after buying an additional 199,441 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Brown & Brown by 1.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,485,448 shares of the company’s stock worth $130,600,000 after buying an additional 63,315 shares in the last quarter. Martingale Asset Management L P increased its stake in Brown & Brown by 18.9% in the second quarter. Martingale Asset Management L P now owns 443,999 shares of the company’s stock worth $16,638,000 after buying an additional 70,710 shares in the last quarter. Finally, BlackRock Investment Management LLC increased its stake in Brown & Brown by 13.5% in the second quarter. BlackRock Investment Management LLC now owns 379,896 shares of the company’s stock worth $14,235,000 after buying an additional 45,158 shares in the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on BRO shares. Zacks Investment Research raised Brown & Brown from a “sell” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Tuesday, June 28th. Citigroup Inc. raised their target price on Brown & Brown from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday. RBC Capital Markets reissued a “sector perform” rating and issued a $37.00 price objective (up previously from $35.00) on shares of Brown & Brown in a research note on Wednesday, July 20th. Compass Point raised their price objective on Brown & Brown from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, July 20th. Finally, Royal Bank Of Canada raised their price objective on Brown & Brown from $35.00 to $37.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 20th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.67.
About Brown & Brown
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services in the property, casualty and employee benefits areas. It provides customers with non-investment insurance contracts, as well as other targeted, customized risk management products and services.
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