Brown & Brown, Inc. (NYSE:BRO) – SunTrust Banks dropped their Q2 2018 earnings per share (EPS) estimates for shares of Brown & Brown in a note issued to investors on Tuesday. SunTrust Banks analyst M. Hughes now expects that the financial services provider will post earnings per share of $0.53 for the quarter, down from their prior forecast of $0.54. SunTrust Banks also issued estimates for Brown & Brown’s Q3 2018 earnings at $0.57 EPS and FY2018 earnings at $2.01 EPS.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, October 16th. The financial services provider reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.04. Brown & Brown had a net margin of 14.66% and a return on equity of 10.99%. The business had revenue of $475.60 million during the quarter, compared to analysts’ expectations of $475.13 million. During the same quarter in the prior year, the company earned $0.50 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: “Q2 2018 EPS Estimates for Brown & Brown, Inc. Lowered by Analyst (BRO)” was originally reported by Watch List News and is the property of of Watch List News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US & international copyright & trademark law. The legal version of this news story can be read at https://www.watchlistnews.com/q2-2018-eps-estimates-for-brown-brown-inc-lowered-by-analyst-bro/1645700.html.

Several other research firms also recently weighed in on BRO. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $43.00 price target on shares of Brown & Brown in a research note on Friday, August 18th. Morgan Stanley lifted their price target on shares of Brown & Brown from $40.00 to $43.00 and gave the company an “underweight” rating in a research note on Wednesday. BidaskClub downgraded shares of Brown & Brown from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Citigroup Inc. lifted their price target on shares of Brown & Brown from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 13th. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of Brown & Brown in a research note on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $44.22.

Brown & Brown (NYSE:BRO) traded up 0.65% during mid-day trading on Thursday, hitting $49.32. 758,260 shares of the company were exchanged. The company has a market capitalization of $6.88 billion, a P/E ratio of 25.94 and a beta of 0.79. Brown & Brown has a 12-month low of $36.05 and a 12-month high of $49.75. The company’s 50-day moving average is $47.85 and its 200 day moving average is $44.43.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Friday, October 27th will be issued a dividend of $0.15 per share. This is a boost from Brown & Brown’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, October 26th. Brown & Brown’s dividend payout ratio (DPR) is currently 28.57%.

In other news, EVP Anthony T. Strianese sold 10,000 shares of Brown & Brown stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $44.59, for a total transaction of $445,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 16.98% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank grew its holdings in shares of Brown & Brown by 0.9% during the second quarter. Comerica Bank now owns 90,104 shares of the financial services provider’s stock valued at $3,987,000 after buying an additional 772 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Brown & Brown by 48.5% during the second quarter. Prudential Financial Inc. now owns 257,442 shares of the financial services provider’s stock valued at $11,088,000 after buying an additional 84,120 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Brown & Brown by 5.9% during the second quarter. Russell Investments Group Ltd. now owns 83,762 shares of the financial services provider’s stock valued at $3,607,000 after buying an additional 4,652 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Brown & Brown by 2.6% during the second quarter. Mutual of America Capital Management LLC now owns 99,331 shares of the financial services provider’s stock valued at $4,278,000 after buying an additional 2,518 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Brown & Brown by 5.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 467,704 shares of the financial services provider’s stock valued at $20,145,000 after buying an additional 26,188 shares during the last quarter. Hedge funds and other institutional investors own 72.18% of the company’s stock.

Brown & Brown Company Profile

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 and Estimates for Brown & Brown (NYSE:BRO)

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