Brown & Brown, Inc. (NYSE:BRO) Announces $0.15 Quarterly Dividend

Brown & Brown, Inc. (NYSE:BRO) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders of record on Wednesday, February 5th will be paid a dividend of 0.15 per share by the financial services provider on Wednesday, February 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Wednesday, February 5th.

Brown & Brown has a payout ratio of 12.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Brown & Brown to earn $4.09 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 12.7%.

Brown & Brown Price Performance

BRO stock opened at $105.21 on Friday. Brown & Brown has a 1 year low of $75.79 and a 1 year high of $114.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The business has a 50 day simple moving average of $105.92 and a 200-day simple moving average of $103.59. The firm has a market capitalization of $30.08 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business posted $0.71 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that Brown & Brown will post 3.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BRO has been the topic of several research analyst reports. Bank of America lifted their price target on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Keefe, Bruyette & Woods decreased their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. Barclays lifted their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Finally, Jefferies Financial Group boosted their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Brown & Brown presently has an average rating of “Hold” and an average price target of $112.08.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.