Brown & Brown (BRO) to Release Earnings on Monday

Brown & Brown (NYSE:BRO) is scheduled to be announcing its earnings results after the market closes on Monday, October 28th. Analysts expect the company to announce earnings of $0.86 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Brown & Brown Stock Down 1.2 %

Brown & Brown stock opened at $103.98 on Friday. The company has a market capitalization of $29.66 billion, a P/E ratio of 29.88, a P/E/G ratio of 2.48 and a beta of 0.83. The firm’s fifty day simple moving average is $104.03 and its 200-day simple moving average is $95.13. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56. Brown & Brown has a 1-year low of $67.30 and a 1-year high of $107.67.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.58%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio (DPR) is currently 14.94%.

Insiders Place Their Bets

In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the sale, the chief financial officer now directly owns 88,445 shares in the company, valued at $8,872,802.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the sale, the chief financial officer now directly owns 88,445 shares in the company, valued at approximately $8,872,802.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The disclosure for this sale can be found here. Company insiders own 17.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BRO shares. UBS Group raised their price target on shares of Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Argus began coverage on shares of Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 target price on the stock. Bank of America lifted their target price on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Royal Bank of Canada lifted their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Brown & Brown presently has an average rating of “Hold” and a consensus target price of $105.67.

About Brown & Brown

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.