Brown & Brown (BRO) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Brown & Brown (NYSE:BRO) announced its quarterly earnings data on Monday. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.05, Bloomberg Earnings reports. Brown & Brown had a return on equity of 10.99% and a net margin of 14.66%. The firm had revenue of $474.30 million for the quarter, compared to analysts’ expectations of $449.89 million. During the same period last year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis.

Brown & Brown (NYSE:BRO) traded down $0.25 during mid-day trading on Monday, reaching $52.25. The company’s stock had a trading volume of 1,658,034 shares, compared to its average volume of 553,000. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $7,280.00, a PE ratio of 28.09, a price-to-earnings-growth ratio of 2.30 and a beta of 0.79. Brown & Brown has a 12 month low of $41.10 and a 12 month high of $52.86.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, February 1st. Brown & Brown’s payout ratio is 32.26%.

In other Brown & Brown news, Director Richard Silas sold 50,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $0.83, for a total value of $41,500.00. Company insiders own 16.98% of the company’s stock.

BRO has been the topic of several research analyst reports. Barclays raised their price objective on Brown & Brown from $39.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 16th. Keefe, Bruyette & Woods restated a “hold” rating and set a $45.00 price objective on shares of Brown & Brown in a research note on Monday, October 16th. Wells Fargo & Co set a $45.00 price objective on Brown & Brown and gave the stock a “hold” rating in a research note on Monday, October 16th. Morgan Stanley raised their price objective on Brown & Brown from $40.00 to $43.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 18th. Finally, Zacks Investment Research cut Brown & Brown from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $46.38.

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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 its customers with non-investment insurance contracts, as well as other customized risk management products and services.

Earnings History for Brown & Brown (NYSE:BRO)

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