Brown & Brown (NYSE:BRO) Issues Quarterly Earnings Results

Brown & Brown (NYSE:BRO) announced its quarterly earnings data on Tuesday. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07, Briefing.com reports. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm earned $0.84 earnings per share.

Brown & Brown Trading Up 0.4 %

Shares of Brown & Brown stock opened at $82.51 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.95 and a current ratio of 1.95. Brown & Brown has a fifty-two week low of $60.00 and a fifty-two week high of $87.99. The company has a market capitalization of $23.54 billion, a P/E ratio of 26.96, a P/E/G ratio of 2.47 and a beta of 0.78. The company has a fifty day moving average of $84.23 and a 200 day moving average of $76.82.

Insider Buying and Selling at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 144,323 shares of Brown & Brown stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the sale, the chairman now owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 16.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BRO. Jefferies Financial Group downgraded Brown & Brown from a “buy” rating to a “hold” rating and lowered their price objective for the company from $85.00 to $78.00 in a research report on Tuesday, January 9th. Bank of America cut Brown & Brown from a “neutral” rating to an “underperform” rating and boosted their price target for the stock from $80.00 to $86.00 in a research report on Wednesday, March 13th. Citigroup lifted their target price on shares of Brown & Brown from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research report on Sunday, March 17th. Finally, Raymond James boosted their target price on shares of Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $86.80.

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.