Brown & Brown, Inc. (NYSE:BRO – Free Report) – Analysts at Zacks Research lifted their FY2024 earnings per share estimates for Brown & Brown in a report issued on Friday, August 25th. Zacks Research analyst T. De now forecasts that the financial services provider will earn $2.85 per share for the year, up from their previous forecast of $2.76. The consensus estimate for Brown & Brown’s current full-year earnings is $2.69 per share. Zacks Research also issued estimates for Brown & Brown’s Q4 2024 earnings at $0.58 EPS.
Several other equities analysts have also weighed in on the company. Keefe, Bruyette & Woods lowered Brown & Brown from an “outperform” rating to a “market perform” rating and increased their target price for the company from $73.00 to $76.00 in a research note on Tuesday, August 1st. Raymond James raised their price target on Brown & Brown from $70.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, July 26th. StockNews.com assumed coverage on Brown & Brown in a research note on Thursday, August 17th. They set a “buy” rating for the company. Citigroup lifted their price target on Brown & Brown from $72.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, Truist Financial lifted their price objective on Brown & Brown from $82.00 to $85.00 in a report on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.70.
View Our Latest Stock Report on BRO
Brown & Brown Trading Up 1.1 %
Shares of BRO opened at $73.07 on Monday. Brown & Brown has a 12-month low of $52.82 and a 12-month high of $73.52. The stock’s fifty day simple moving average is $69.60 and its 200-day simple moving average is $63.51. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $20.72 billion, a PE ratio of 28.32 and a beta of 0.76.
Brown & Brown (NYSE:BRO – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.08. Brown & Brown had a return on equity of 15.19% and a net margin of 18.34%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $997.51 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year.
Brown & Brown Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 9th were given a dividend of $0.115 per share. The ex-dividend date was Tuesday, August 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.63%. Brown & Brown’s dividend payout ratio is currently 17.83%.
Insiders Place Their Bets
In related news, Director Bronislaw Edmund Masojada bought 4,000 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were purchased at an average price of $65.78 per share, for a total transaction of $263,120.00. Following the completion of the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $263,120. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 17.02% of the company’s stock.
Institutional Investors Weigh In On Brown & Brown
Institutional investors and hedge funds have recently made changes to their positions in the business. First Capital Advisors Group LLC. purchased a new stake in Brown & Brown during the second quarter valued at about $26,000. West Tower Group LLC purchased a new position in shares of Brown & Brown during the second quarter valued at approximately $27,000. Quilter Plc purchased a new position in shares of Brown & Brown during the first quarter valued at approximately $438,906,000. Clear Street Markets LLC lifted its holdings in shares of Brown & Brown by 93.7% during the first quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 223 shares during the last quarter. Finally, PSI Advisors LLC purchased a new position in Brown & Brown in the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 69.90% of the company’s stock.
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.
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