Brown & Brown, Inc. (NYSE:BRO) Announces Quarterly Dividend of $0.17

Brown & Brown, Inc. (NYSE:BRO) announced a quarterly dividend on Monday, April 27th. Investors of record on Monday, May 11th will be paid a dividend of 0.165 per share by the financial services provider on Wednesday, May 20th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, May 11th.

Brown & Brown has raised its dividend by an average of 0.1%annually over the last three years. Brown & Brown has a payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Brown & Brown to earn $4.98 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 13.3%.

Brown & Brown Trading Up 0.4%

Shares of NYSE:BRO opened at $66.18 on Tuesday. The company has a market cap of $22.53 billion, a PE ratio of 20.68, a P/E/G ratio of 1.80 and a beta of 0.83. The company’s 50-day moving average price is $68.06 and its 200 day moving average price is $75.61. Brown & Brown has a fifty-two week low of $63.29 and a fifty-two week high of $115.45. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.92 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. Brown & Brown’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same period last year, the firm posted $1.29 EPS. Sell-side analysts anticipate that Brown & Brown will post 4.54 earnings per share for the current year.

Hedge Funds Weigh In On Brown & Brown

Several large investors have recently bought and sold shares of BRO. Bank of New York Mellon Corp grew its stake in shares of Brown & Brown by 3.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,420,814 shares of the financial services provider’s stock worth $133,258,000 after purchasing an additional 51,959 shares during the last quarter. Triad Investment Management acquired a new position in shares of Brown & Brown in the 4th quarter worth approximately $4,314,000. Tandem Investment Advisors Inc. grew its stake in shares of Brown & Brown by 69.7% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 1,385,214 shares of the financial services provider’s stock worth $129,919,000 after purchasing an additional 569,037 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Brown & Brown by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 37,330,892 shares of the financial services provider’s stock worth $3,501,264,000 after purchasing an additional 1,705,570 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Brown & Brown by 43.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,600 shares of the financial services provider’s stock worth $4,558,000 after purchasing an additional 14,678 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

About Brown & Brown

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.