Brown & Brown, Inc. (NYSE:BRO) Announces Quarterly Dividend of $0.18

Brown & Brown, Inc. (NYSE:BRO) declared a quarterly dividend on Wednesday, October 21st. Investors of record on Wednesday, November 4th will be given a dividend of $0.18 per share by the financial services provider on Wednesday, November 11th. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 4th. This is a 9.1% increase from Brown & Brown’s previous quarterly dividend of $0.1650.

Brown & Brown has increased its dividend payment by an average of 0.1% per year over the last three years. Brown & Brown has a dividend payout ratio of 16.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Brown & Brown to earn $4.90 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 13.5%.

Brown & Brown Stock Performance

Shares of BRO traded up $3.14 during mid-day trading on Thursday, hitting $73.67. 387,107 shares of the company’s stock were exchanged, compared to its average volume of 2,913,478. The firm has a market cap of $24.65 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 2.21 and a beta of 0.60. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. The stock’s 50-day simple moving average is $67.15 and its 200-day simple moving average is $65.02. Brown & Brown has a 52 week low of $53.81 and a 52 week high of $90.46.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the company posted $1.03 EPS. The business’s revenue was up 30.4% on a year-over-year basis. On average, equities research analysts expect that Brown & Brown will post 4.49 EPS for the current year.

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.