Brown & Brown (NYSE:BRO) Issues Quarterly Earnings Results

Brown & Brown (NYSE:BRO) released its quarterly earnings data on Monday. The financial services provider reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01), FiscalAI reports. Brown & Brown had a net margin of 17.63% and a return on equity of 13.29%. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the company posted $1.05 EPS. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year.

Brown & Brown Price Performance

NYSE:BRO opened at $69.73 on Friday. The stock has a market cap of $23.13 billion, a P/E ratio of 15.21, a PEG ratio of 2.21 and a beta of 0.60. Brown & Brown has a one year low of $53.81 and a one year high of $82.57. The company has a fifty day moving average price of $67.03 and a 200 day moving average price of $66.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.96 and a quick ratio of 2.11.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 11th. Investors of record on Wednesday, November 4th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.1650. The ex-dividend date of this dividend is Wednesday, November 4th. Brown & Brown’s payout ratio is presently 20.89%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays lowered their price objective on Brown & Brown from $76.00 to $71.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 7th. Weiss Ratings upgraded Brown & Brown from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 22nd. Oppenheimer assumed coverage on Brown & Brown in a research report on Wednesday, October 7th. They set an “outperform” rating and a $73.00 target price for the company. Truist Financial lowered their price target on Brown & Brown from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Citizens Jmp dropped their price target on shares of Brown & Brown from $78.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $75.53.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance brokerage and risk management company headquartered in Daytona Beach, Florida. The company helps businesses, public entities, individuals and other organizations identify, manage and transfer risk by arranging insurance coverage and providing related advisory services.

Its operations include retail insurance brokerage, national programs, wholesale brokerage and services. Brown & Brown offers property and casualty insurance, employee benefits, personal insurance, surety and other specialized coverage.