Brown & Brown, Inc. (NYSE:BRO) to Post Q2 2024 Earnings of $0.87 Per Share, William Blair Forecasts

Brown & Brown, Inc. (NYSE:BRO) – Equities research analysts at William Blair upped their Q2 2024 EPS estimates for shares of Brown & Brown in a research report issued on Tuesday, April 23rd. William Blair analyst A. Klauber now anticipates that the financial services provider will post earnings of $0.87 per share for the quarter, up from their prior estimate of $0.84. The consensus estimate for Brown & Brown’s current full-year earnings is $3.61 per share. William Blair also issued estimates for Brown & Brown’s FY2024 earnings at $3.59 EPS, Q1 2025 earnings at $1.22 EPS, Q2 2025 earnings at $0.94 EPS, Q3 2025 earnings at $0.95 EPS, Q4 2025 earnings at $0.79 EPS and FY2025 earnings at $3.89 EPS.

A number of other brokerages have also recently commented on BRO. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a research note on Sunday, March 17th. Truist Financial lifted their price target on shares of Brown & Brown from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup lifted their price target on shares of Brown & Brown from $89.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Raymond James lifted their price target on shares of Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Finally, Bank of America cut shares of Brown & Brown from a “neutral” rating to an “underperform” rating and lifted their price target for the stock from $80.00 to $86.00 in a research note on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and a consensus price target of $87.10.

Brown & Brown Stock Performance

Shares of NYSE:BRO opened at $81.45 on Thursday. Brown & Brown has a 52 week low of $61.71 and a 52 week high of $87.99. The stock has a market capitalization of $23.24 billion, a P/E ratio of 25.06, a PEG ratio of 2.25 and a beta of 0.78. The firm has a fifty day simple moving average of $84.29 and a two-hundred day simple moving average of $77.06. The company has a quick ratio of 1.95, a current ratio of 1.97 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the company posted $0.84 EPS. The business’s revenue was up 12.7% on a year-over-year basis.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be given a $0.13 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.52 annualized dividend and a yield of 0.64%. Brown & Brown’s dividend payout ratio (DPR) is 16.00%.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the 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 approximately $3,220,113,605.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.02% of the stock is owned by corporate insiders.

Institutional Trading of Brown & Brown

Hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC increased its position in shares of Brown & Brown by 37.8% during the third quarter. Global Retirement Partners LLC now owns 758 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 208 shares in the last quarter. HB Wealth Management LLC acquired a new position in shares of Brown & Brown during the third quarter worth $209,000. Oak Thistle LLC increased its position in shares of Brown & Brown by 209.5% during the third quarter. Oak Thistle LLC now owns 31,097 shares of the financial services provider’s stock worth $2,172,000 after purchasing an additional 21,051 shares in the last quarter. Czech National Bank increased its position in shares of Brown & Brown by 47.6% during the third quarter. Czech National Bank now owns 41,142 shares of the financial services provider’s stock worth $2,873,000 after purchasing an additional 13,273 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Brown & Brown by 3.4% during the third quarter. Asset Management One Co. Ltd. now owns 97,918 shares of the financial services provider’s stock worth $6,839,000 after purchasing an additional 3,184 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

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.