Wall Street brokerages expect Brown & Brown, Inc. (NYSE:BRO) to post sales of $556.65 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Brown & Brown’s earnings. The lowest sales estimate is $548.10 million and the highest is $563.98 million. Brown & Brown posted sales of $473.10 million in the same quarter last year, which would indicate a positive year over year growth rate of 17.7%. The firm is expected to announce its next quarterly earnings results on Monday, July 22nd.
On average, analysts expect that Brown & Brown will report full-year sales of $2.36 billion for the current year, with estimates ranging from $2.35 billion to $2.39 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.50 billion, with estimates ranging from $2.44 billion to $2.57 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Brown & Brown.
Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, April 22nd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.05. Brown & Brown had a return on equity of 12.47% and a net margin of 17.23%. The company had revenue of $617.50 million for the quarter, compared to analyst estimates of $600.51 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The firm’s quarterly revenue was up 23.4% compared to the same quarter last year.
In other Brown & Brown news, EVP Anthony T. Strianese sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $29.17, for a total value of $1,020,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert W. Lloyd sold 10,601 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $29.29, for a total value of $310,503.29. The disclosure for this sale can be found here. 16.69% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BRO. State of Alaska Department of Revenue lifted its holdings in shares of Brown & Brown by 1.5% during the first quarter. State of Alaska Department of Revenue now owns 25,248 shares of the financial services provider’s stock worth $744,000 after purchasing an additional 362 shares during the period. Quantamental Technologies LLC lifted its holdings in shares of Brown & Brown by 25.4% during the first quarter. Quantamental Technologies LLC now owns 1,898 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 384 shares during the period. First Hawaiian Bank lifted its holdings in shares of Brown & Brown by 2.0% during the first quarter. First Hawaiian Bank now owns 23,157 shares of the financial services provider’s stock worth $684,000 after purchasing an additional 461 shares during the period. ETF Managers Group LLC lifted its holdings in shares of Brown & Brown by 10.3% during the first quarter. ETF Managers Group LLC now owns 5,657 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 530 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Brown & Brown by 4.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 13,547 shares of the financial services provider’s stock worth $373,000 after purchasing an additional 585 shares during the period. 72.17% of the stock is owned by institutional investors and hedge funds.
BRO traded down $0.79 on Monday, hitting $31.40. The company had a trading volume of 957,400 shares, compared to its average volume of 1,043,777. Brown & Brown has a 12-month low of $25.72 and a 12-month high of $32.54. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.93 and a quick ratio of 0.95. The firm has a market capitalization of $8.93 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 2.33 and a beta of 0.75.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Wednesday, May 8th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.02%. The ex-dividend date is Tuesday, May 7th. Brown & Brown’s dividend payout ratio is presently 26.02%.
About Brown & Brown
Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.
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