Brown & Brown, Inc. (NYSE:BRO) – Stock analysts at Langen Mcalenn reduced their Q4 2018 earnings per share (EPS) estimates for Brown & Brown in a report issued on Wednesday, October 24th. Langen Mcalenn analyst R. Glasspiegel now expects that the financial services provider will earn $0.29 per share for the quarter, down from their previous forecast of $0.30. Langen Mcalenn also issued estimates for Brown & Brown’s Q1 2019 earnings at $0.37 EPS, Q2 2019 earnings at $0.32 EPS, Q3 2019 earnings at $0.40 EPS and FY2019 earnings at $1.42 EPS.
Other analysts have also recently issued research reports about the company. Credit Suisse Group began coverage on Brown & Brown in a research report on Tuesday, August 7th. They set a “neutral” rating and a $31.00 price objective for the company. Morgan Stanley boosted their price target on Brown & Brown from $26.00 to $28.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 14th. Citigroup boosted their price target on Brown & Brown from $25.00 to $26.00 and gave the stock a “sell” rating in a research report on Thursday, July 12th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $28.00 price target on shares of Brown & Brown in a research report on Monday, October 22nd. Finally, Zacks Investment Research cut Brown & Brown from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Brown & Brown currently has a consensus rating of “Hold” and a consensus target price of $29.18.
Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, October 22nd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The firm had revenue of $530.90 million during the quarter, compared to analysts’ expectations of $508.82 million. Brown & Brown had a return on equity of 12.60% and a net margin of 23.15%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 7th. Shareholders of record on Friday, October 26th will be given a $0.08 dividend. The ex-dividend date is Thursday, October 25th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.15%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.08. Brown & Brown’s payout ratio is currently 31.25%.
Large investors have recently made changes to their positions in the business. Bruderman Asset Management LLC acquired a new position in shares of Brown & Brown during the 2nd quarter worth about $117,000. Itau Unibanco Holding S.A. acquired a new position in shares of Brown & Brown during the 2nd quarter worth about $144,000. Rowland & Co. Investment Counsel ADV acquired a new position in shares of Brown & Brown during the 2nd quarter worth about $183,000. Palladium Partners LLC acquired a new position in shares of Brown & Brown during the 2nd quarter worth about $211,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Brown & Brown during the 2nd quarter worth about $225,000. 71.60% of the stock is owned by institutional investors.
Brown & Brown Company Profile
Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.
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