Brown & Brown Inc. (BRO) to Release Earnings on Monday
Brown & Brown Inc. (NYSE:BRO) is set to release 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. Individual that are interested in participating in the company’s earnings conference call can do so using this link.
Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, July 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. The firm 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 period in the prior year, the company 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 37.51 on Friday. The company has a 50-day moving average of $37.48 and a 200 day moving average of $36.34. The firm has a market capitalization of $5.24 billion, a PE ratio of 20.96 and a beta of 0.93. Brown & Brown Inc. has a 12-month low of $28.41 and a 12-month high of $38.69.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 9th. Stockholders of record on Friday, October 28th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 1.44%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.12. Brown & Brown’s dividend payout ratio is currently 27.37%.
Several equities research analysts have recently weighed in on the company. Citigroup Inc. increased their price objective on Brown & Brown from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $37.00 target price (up from $35.00) on shares of Brown & Brown in a research report on Wednesday, July 20th. Compass Point raised their target price on Brown & Brown from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 20th. Royal Bank Of Canada raised their target price on Brown & Brown from $35.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 20th. Finally, Barclays PLC raised their target price on Brown & Brown from $31.00 to $33.00 and gave the stock an “underweight” rating in a research report on Friday, September 30th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $35.67.
In related news, EVP Robert W. Lloyd sold 2,971 shares of Brown & Brown stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $37.32, for a total value of $110,877.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 17.49% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in BRO. Cubist Systematic Strategies LLC purchased a new stake in shares of Brown & Brown during the second quarter worth approximately $248,000. KCG Holdings Inc. purchased a new stake in shares of Brown & Brown during the second quarter worth approximately $272,000. Citadel Advisors LLC purchased a new stake in shares of Brown & Brown during the second quarter worth approximately $449,000. Pacer Advisors Inc. raised its stake in shares of Brown & Brown by 512.9% in the second quarter. Pacer Advisors Inc. now owns 12,357 shares of the company’s stock worth $463,000 after buying an additional 10,341 shares during the last quarter. Finally, Profund Advisors LLC raised its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 72.81% 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 customers with non-investment insurance contracts, as well as other targeted, customized risk management products and services.
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