Zacks: Analysts Anticipate Brown & Brown, Inc. (NYSE:BRO) Will Announce Quarterly Sales of $756.20 Million

Analysts expect that Brown & Brown, Inc. (NYSE:BRO) will announce $756.20 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Brown & Brown’s earnings, with estimates ranging from $747.19 million to $767.91 million. Brown & Brown reported sales of $674.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 12.2%. The business is expected to report its next quarterly earnings results on Monday, October 25th.

On average, analysts expect that Brown & Brown will report full-year sales of $3.01 billion for the current financial year, with estimates ranging from $2.99 billion to $3.02 billion. For the next financial year, analysts expect that the company will post sales of $3.21 billion, with estimates ranging from $3.18 billion to $3.23 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Brown & Brown.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Sunday, July 25th. The financial services provider reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.09. Brown & Brown had a return on equity of 15.19% and a net margin of 19.95%. The firm had revenue of $727.30 million for the quarter, compared to analyst estimates of $687.84 million.

BRO has been the subject of several analyst reports. Wolfe Research initiated coverage on Brown & Brown in a research note on Monday, August 16th. They issued a “peer perform” rating and a $61.00 target price for the company. Morgan Stanley upped their target price on Brown & Brown from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Monday, August 16th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and an average target price of $54.67.

In other Brown & Brown news, EVP Stephen M. Boyd sold 7,050 shares of the business’s stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $58.03, for a total transaction of $409,111.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director H Palmer Proctor, Jr. bought 2,000 shares of the business’s stock in a transaction on Thursday, July 29th. The shares were purchased at an average cost of $54.98 per share, for a total transaction of $109,960.00. The disclosure for this purchase can be found here. Insiders own 17.02% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in Brown & Brown by 4.4% in the second quarter. Bank of America Corp DE now owns 1,200,539 shares of the financial services provider’s stock worth $63,798,000 after purchasing an additional 50,599 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Brown & Brown by 5.4% during the second quarter. Parametric Portfolio Associates LLC now owns 497,135 shares of the financial services provider’s stock valued at $26,418,000 after acquiring an additional 25,259 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Brown & Brown during the second quarter valued at about $239,000. Mariner LLC boosted its holdings in Brown & Brown by 247.9% during the second quarter. Mariner LLC now owns 34,855 shares of the financial services provider’s stock valued at $1,852,000 after acquiring an additional 24,835 shares during the period. Finally, Jefferies Group LLC bought a new stake in Brown & Brown during the second quarter valued at about $349,000. 70.56% of the stock is currently owned by institutional investors and hedge funds.

BRO traded up $0.08 during trading on Friday, reaching $57.48. 1,162,447 shares of the stock were exchanged, compared to its average volume of 1,325,326. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.95 and a quick ratio of 0.95. Brown & Brown has a 1 year low of $42.72 and a 1 year high of $59.46. The business’s 50 day moving average price is $56.14 and its two-hundred day moving average price is $52.50. The company has a market capitalization of $16.19 billion, a price-to-earnings ratio of 28.77 and a beta of 0.70.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 18th. Stockholders of record on Wednesday, August 11th were given a dividend of $0.0925 per share. The ex-dividend date was Tuesday, August 10th. This represents a $0.37 annualized dividend and a dividend yield of 0.64%. Brown & Brown’s dividend payout ratio is presently 22.16%.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance programs 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.

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