Brown & Brown Inc. (BRO) to Release Quarterly Earnings on Monday
Brown & Brown Inc. (NYSE:BRO) will be releasing its Q316 earnings data on Monday, October 17th. Analysts expect Brown & Brown to post earnings of $0.49 per share and revenue of $455.56 million for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.
Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, July 18th. The company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. The business had revenue of $446.50 million for the quarter, compared to analysts’ expectations of $439.70 million. Brown & Brown had a net margin of 14.87% and a return on equity of 11.68%. During the same quarter in the prior year, the firm posted $0.43 earnings per share. On average, analysts expect Brown & Brown to post $1.81 EPS for the current fiscal year and $1.92 EPS for the next fiscal year.
Shares of Brown & Brown Inc. (NYSE:BRO) opened at 37.61 on Thursday. The company has a market cap of $5.26 billion, a PE ratio of 21.01 and a beta of 0.93. The firm’s 50-day moving average is $37.46 and its 200-day moving average is $36.33. Brown & Brown Inc. has a 12 month low of $28.41 and a 12 month high of $38.69.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 9th. Investors of record on Friday, October 28th will be given a $0.135 dividend. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.12. This represents a $0.54 annualized dividend and a dividend yield of 1.44%. Brown & Brown’s dividend payout ratio (DPR) is presently 27.37%.
In related news, EVP Robert W. Lloyd sold 2,971 shares of Brown & Brown stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $37.32, for a total value of $110,877.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 17.49% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC boosted its stake in Brown & Brown by 1.1% in the second quarter. Parametric Portfolio Associates LLC now owns 77,561 shares of the company’s stock worth $2,906,000 after buying an additional 858 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Brown & Brown by 5.5% in the second quarter. Ameritas Investment Partners Inc. now owns 18,376 shares of the company’s stock worth $689,000 after buying an additional 953 shares in the last quarter. American International Group Inc. boosted its stake in Brown & Brown by 0.9% in the second quarter. American International Group Inc. now owns 225,104 shares of the company’s stock worth $8,435,000 after buying an additional 2,081 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Brown & Brown by 2.6% in the second quarter. Alliancebernstein L.P. now owns 88,181 shares of the company’s stock worth $3,304,000 after buying an additional 2,250 shares in the last quarter. Finally, Profund Advisors LLC boosted its stake in Brown & Brown by 17.0% in the second quarter. Profund Advisors LLC now owns 17,055 shares of the company’s stock worth $639,000 after buying an additional 2,473 shares in the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently commented on BRO. Barclays PLC increased their price objective on shares of Brown & Brown from $31.00 to $33.00 and gave the company an “underweight” rating in a research report on Friday, September 30th. Zacks Investment Research lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Friday, July 15th. JPMorgan Chase & Co. began coverage on shares of Brown & Brown in a research report on Tuesday, June 28th. They issued an “underweight” rating and a $32.00 price objective for the company. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $37.00 price objective (up from $35.00) on shares of Brown & Brown in a research report on Wednesday, July 20th. Finally, Compass Point raised their price target on shares of Brown & Brown from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 20th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Brown & Brown currently has an average rating of “Hold” and a consensus target price of $35.67.
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 customers with non-investment insurance contracts, as well as other targeted, customized risk management products and services.
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