Brown & Brown, Inc. Expected to Earn Q2 2024 Earnings of $0.87 Per Share (NYSE:BRO)

Brown & Brown, Inc. (NYSE:BRO) – William Blair upped their Q2 2024 earnings per share (EPS) estimates for shares of Brown & Brown in a report issued on Tuesday, April 23rd. William Blair analyst A. Klauber now forecasts that the financial services provider will post earnings of $0.87 per share for the quarter, up from their prior estimate of $0.84. The consensus estimate for Brown & Brown’s current full-year earnings is $3.57 per share. William Blair also issued estimates for Brown & Brown’s FY2024 earnings at $3.59 EPS, Q1 2025 earnings at $1.22 EPS, Q2 2025 earnings at $0.94 EPS, Q3 2025 earnings at $0.95 EPS, Q4 2025 earnings at $0.79 EPS and FY2025 earnings at $3.89 EPS.

Several other equities research analysts have also commented on BRO. UBS Group upped their target price on Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Truist Financial increased their price target on Brown & Brown from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group upgraded Brown & Brown from a “neutral” rating to a “buy” rating and cut their price target for the stock from $84.00 to $83.00 in a report on Monday, January 8th. Jefferies Financial Group lowered Brown & Brown from a “buy” rating to a “hold” rating and cut their price target for the stock from $85.00 to $78.00 in a report on Tuesday, January 9th. Finally, StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research note on Sunday, March 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and a consensus target price of $87.10.

Brown & Brown Stock Down 1.0 %

Shares of Brown & Brown stock opened at $82.13 on Thursday. Brown & Brown has a one year low of $60.00 and a one year high of $87.99. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.95. The stock’s 50-day moving average is $84.30 and its 200 day moving average is $76.99. The firm has a market cap of $23.43 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 2.49 and a beta of 0.78.

Brown & Brown (NYSE:BRO) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.07 by $0.07. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the company earned $0.84 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year.

Hedge Funds Weigh In On Brown & Brown

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRO. Global Retirement Partners LLC grew its position in Brown & Brown by 37.8% during the third quarter. Global Retirement Partners LLC now owns 758 shares of the financial services provider’s stock worth $53,000 after buying an additional 208 shares in the last quarter. HB Wealth Management LLC purchased a new position in Brown & Brown during the third quarter worth about $209,000. Oak Thistle LLC grew its position in Brown & Brown by 209.5% during the third quarter. Oak Thistle LLC now owns 31,097 shares of the financial services provider’s stock worth $2,172,000 after buying an additional 21,051 shares in the last quarter. Czech National Bank grew its position in Brown & Brown by 47.6% during the third quarter. Czech National Bank now owns 41,142 shares of the financial services provider’s stock worth $2,873,000 after buying an additional 13,273 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its position in Brown & Brown by 3.4% during the third quarter. Asset Management One Co. Ltd. now owns 97,918 shares of the financial services provider’s stock worth $6,839,000 after buying an additional 3,184 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 17.02% of the company’s stock.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Friday, May 3rd. Brown & Brown’s payout ratio is currently 16.00%.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.