$0.49 Earnings Per Share Expected for Brown & Brown, Inc. (NYSE:BRO) This Quarter

Equities analysts predict that Brown & Brown, Inc. (NYSE:BRO – Get Rating) will announce earnings per share (EPS) of $0.49 for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Brown & Brown’s earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.50. Brown & Brown also reported earnings per share of $0.49 in the same quarter last year. The business is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Brown & Brown will report full-year earnings of $2.28 per share for the current year, with EPS estimates ranging from $2.25 to $2.32. For the next fiscal year, analysts anticipate that the company will report earnings of $2.55 per share, with EPS estimates ranging from $2.35 to $2.65. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Brown & Brown.

Brown & Brown (NYSE:BRO – Get Rating) last announced its quarterly earnings data on Monday, April 25th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Brown & Brown had a return on equity of 15.53% and a net margin of 19.35%. During the same quarter in the previous year, the company earned $0.70 EPS.

A number of analysts have recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of Brown & Brown from $64.00 to $67.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 26th. Morgan Stanley boosted their target price on Brown & Brown from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 14th. Zacks Investment Research lowered Brown & Brown from a “buy” rating to a “hold” rating and set a $67.00 price target for the company. in a research note on Thursday, January 27th. UBS Group initiated coverage on shares of Brown & Brown in a report on Monday, April 18th. They issued a “neutral” rating and a $76.00 price objective for the company. Finally, Truist Financial lifted their target price on shares of Brown & Brown from $77.00 to $82.00 in a research note on Thursday, April 21st. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $71.11.

Shares of NYSE:BRO traded up $1.84 on Friday, reaching $57.90. 1,822,559 shares of the company traded hands, compared to its average volume of 1,956,641. The business’s 50-day simple moving average is $66.90 and its 200 day simple moving average is $66.40. Brown & Brown has a 52 week low of $51.41 and a 52 week high of $74.00. The stock has a market capitalization of $16.34 billion, a P/E ratio of 27.06 and a beta of 0.81. The company has a current ratio of 3.80, a quick ratio of 1.04 and a debt-to-equity ratio of 0.81.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 18th. Stockholders of record on Monday, May 9th will be paid a $0.102 dividend. The ex-dividend date is Friday, May 6th. This represents a $0.41 dividend on an annualized basis and a dividend yield of 0.70%. Brown & Brown’s dividend payout ratio is currently 19.16%.

In other Brown & Brown news, Director Lawrence L. Gellerstedt III bought 1,670 shares of Brown & Brown stock in a transaction on Tuesday, May 3rd. The stock was acquired at an average price of $59.99 per share, with a total value of $100,183.30. Following the acquisition, the director now owns 7,727 shares in the company, valued at $463,542.73. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Hugh M. Brown purchased 824 shares of the stock in a transaction dated Thursday, May 5th. The shares were acquired at an average cost of $59.66 per share, for a total transaction of $49,159.84. Following the completion of the acquisition, the director now owns 49,452 shares of the company’s stock, valued at $2,950,306.32. The disclosure for this purchase can be found here. Corporate insiders own 17.02% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Proficio Capital Partners LLC boosted its stake in shares of Brown & Brown by 145.0% in the 1st quarter. Proficio Capital Partners LLC now owns 10,883 shares of the financial services provider’s stock worth $787,000 after buying an additional 6,441 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Brown & Brown by 189.4% during the first quarter. Renaissance Technologies LLC now owns 377,700 shares of the financial services provider’s stock valued at $27,296,000 after purchasing an additional 247,200 shares during the period. ING Groep NV increased its position in Brown & Brown by 291.7% in the first quarter. ING Groep NV now owns 37,200 shares of the financial services provider’s stock worth $2,688,000 after buying an additional 27,704 shares in the last quarter. Verition Fund Management LLC raised its stake in shares of Brown & Brown by 11.7% in the first quarter. Verition Fund Management LLC now owns 9,640 shares of the financial services provider’s stock worth $697,000 after buying an additional 1,010 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Brown & Brown by 2.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,683,849 shares of the financial services provider’s stock valued at $121,692,000 after buying an additional 42,899 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Company Profile (Get Rating)

Brown & Brown, Inc markets and sells insurance products and services in the United States, Bermuda, Canada, Ireland, the United Kingdom, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, loss control survey and analysis, consultancy, and claims processing services.

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