Brown & Brown, Inc. (NYSE:BRO) – Equities researchers at Langen Mcalenn raised their FY2018 earnings per share (EPS) estimates for Brown & Brown in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. Langen Mcalenn analyst R. Glasspiegel now anticipates that the financial services provider will post earnings of $2.52 per share for the year, up from their prior forecast of $2.05. Langen Mcalenn currently has a “Buy” rating on the stock.
Several other analysts have also recently issued reports on BRO. Citigroup set a $49.00 target price on Brown & Brown and gave the company a “sell” rating in a report on Friday. Royal Bank of Canada restated a “hold” rating and issued a $53.00 target price on shares of Brown & Brown in a report on Wednesday, January 24th. Wells Fargo & Co restated a “hold” rating and issued a $52.00 target price on shares of Brown & Brown in a report on Monday, January 22nd. Morgan Stanley upped their target price on Brown & Brown from $40.00 to $43.00 and gave the company an “underweight” rating in a report on Wednesday, October 18th. Finally, Zacks Investment Research upgraded Brown & Brown from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Tuesday, January 2nd. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $48.63.
Shares of Brown & Brown (NYSE:BRO) traded up $0.63 during trading hours on Friday, reaching $51.12. The company’s stock had a trading volume of 871,935 shares, compared to its average volume of 762,081. The company has a current ratio of 0.94, a quick ratio of 0.97 and a debt-to-equity ratio of 0.33. The stock has a market cap of $6,972.92, a PE ratio of 18.26, a P/E/G ratio of 2.11 and a beta of 0.74. Brown & Brown has a 12 month low of $41.10 and a 12 month high of $53.77.
Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.05. The firm had revenue of $474.30 million during the quarter, compared to the consensus estimate of $449.89 million. Brown & Brown had a return on equity of 11.19% and a net margin of 21.24%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, February 1st. Brown & Brown’s dividend payout ratio is presently 21.43%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRO. Victory Capital Management Inc. grew its holdings in shares of Brown & Brown by 59.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,344,841 shares of the financial services provider’s stock worth $161,187,000 after purchasing an additional 1,253,538 shares during the period. Citadel Advisors LLC grew its holdings in shares of Brown & Brown by 224.2% during the 4th quarter. Citadel Advisors LLC now owns 1,438,943 shares of the financial services provider’s stock worth $74,048,000 after purchasing an additional 995,031 shares during the period. Vanguard Group Inc. grew its holdings in shares of Brown & Brown by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 11,226,387 shares of the financial services provider’s stock worth $483,521,000 after purchasing an additional 468,116 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Brown & Brown by 31.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,430,400 shares of the financial services provider’s stock worth $61,607,000 after purchasing an additional 344,100 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Brown & Brown by 19.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,632,332 shares of the financial services provider’s stock worth $70,305,000 after purchasing an additional 263,746 shares during the period. Institutional investors and hedge funds own 72.63% of the company’s stock.
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About Brown & Brown
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.
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