Equities Analysts Issue Forecasts for Brown & Brown, Inc.’s Q3 2024 Earnings (NYSE:BRO)

Brown & Brown, Inc. (NYSE:BRO) – Investment analysts at William Blair dropped their Q3 2024 earnings per share (EPS) estimates for shares of Brown & Brown in a research note issued to investors on Tuesday, July 23rd. William Blair analyst A. Klauber now expects that the financial services provider will post earnings per share of $0.84 for the quarter, down from their prior estimate of $0.86. The consensus estimate for Brown & Brown’s current full-year earnings is $3.66 per share. William Blair also issued estimates for Brown & Brown’s Q4 2024 earnings at $0.69 EPS, FY2024 earnings at $3.60 EPS, Q1 2025 earnings at $1.21 EPS, Q2 2025 earnings at $1.01 EPS, Q3 2025 earnings at $0.94 EPS, Q4 2025 earnings at $0.78 EPS and FY2025 earnings at $3.94 EPS.

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods raised their target price on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a report on Friday. StockNews.com upgraded Brown & Brown from a “hold” rating to a “buy” rating in a report on Friday. UBS Group raised their target price on Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Citigroup raised their target price on Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, Wells Fargo & Company raised their target price on Brown & Brown from $88.00 to $94.00 and gave the company an “equal weight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $97.40.

Brown & Brown Stock Performance

Shares of Brown & Brown stock opened at $99.17 on Thursday. The business has a 50-day moving average of $91.09 and a 200 day moving average of $85.26. Brown & Brown has a 12 month low of $66.73 and a 12 month high of $99.26. The stock has a market capitalization of $28.29 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 2.36 and a beta of 0.82. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.97.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $0.68 EPS.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, August 7th. Brown & Brown’s payout ratio is presently 16.00%.

Insider Buying and Selling

In related news, EVP Julie Turpin sold 3,350 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $89.92, for a total transaction of $301,232.00. Following the completion of the sale, the executive vice president now owns 23,597 shares in the company, valued at $2,121,842.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 17.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Brown & Brown

Several institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its stake in Brown & Brown by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 25,633 shares of the financial services provider’s stock worth $2,243,000 after purchasing an additional 125 shares during the last quarter. Simplicity Wealth LLC increased its position in Brown & Brown by 5.6% during the second quarter. Simplicity Wealth LLC now owns 2,505 shares of the financial services provider’s stock worth $224,000 after buying an additional 132 shares during the period. Legacy Capital Wealth Partners LLC increased its position in Brown & Brown by 2.6% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 6,316 shares of the financial services provider’s stock worth $449,000 after buying an additional 158 shares during the period. Sequoia Financial Advisors LLC increased its position in Brown & Brown by 2.4% during the second quarter. Sequoia Financial Advisors LLC now owns 6,856 shares of the financial services provider’s stock worth $613,000 after buying an additional 163 shares during the period. Finally, First Horizon Advisors Inc. increased its position in Brown & Brown by 22.8% during the fourth quarter. First Horizon Advisors Inc. now owns 1,008 shares of the financial services provider’s stock worth $72,000 after buying an additional 187 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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.