Brown & Brown, Inc. (NYSE:BRO) Announces $0.13 Quarterly Dividend

Brown & Brown, Inc. (NYSE:BROGet Free Report) announced a quarterly dividend on Wednesday, January 17th, Zacks reports. Shareholders of record on Friday, February 2nd will be given a dividend of 0.13 per share by the financial services provider on Wednesday, February 14th. This represents a $0.52 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, February 1st.

Brown & Brown has increased its dividend by an average of 11.0% per year over the last three years and has raised its dividend annually for the last 30 consecutive years. Brown & Brown has a payout ratio of 15.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Brown & Brown to earn $3.48 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 14.9%.

Brown & Brown Stock Up 1.6 %

Brown & Brown stock opened at $78.31 on Wednesday. The business has a fifty day moving average of $73.35 and a two-hundred day moving average of $72.05. The firm has a market cap of $22.29 billion, a P/E ratio of 25.59, a P/E/G ratio of 2.73 and a beta of 0.75. The company has a quick ratio of 1.85, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. Brown & Brown has a twelve month low of $52.82 and a twelve month high of $79.99.

Brown & Brown (NYSE:BROGet Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $1.03 billion for the quarter. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. During the same period in the previous year, the company posted $0.50 earnings per share. On average, analysts forecast that Brown & Brown will post 3.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, EVP Stephen M. Boyd sold 2,500 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $70.64, for a total value of $176,600.00. Following the sale, the executive vice president now directly owns 64,471 shares of the company’s stock, valued at $4,554,231.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 16.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Brown & Brown

Several hedge funds have recently added to or reduced their stakes in the business. Advisor Partners II LLC boosted its holdings in Brown & Brown by 1.3% in the first quarter. Advisor Partners II LLC now owns 11,845 shares of the financial services provider’s stock valued at $680,000 after purchasing an additional 157 shares during the last quarter. Stephens Inc. AR boosted its stake in shares of Brown & Brown by 0.7% during the 1st quarter. Stephens Inc. AR now owns 25,801 shares of the financial services provider’s stock worth $1,481,000 after acquiring an additional 172 shares in the last quarter. Clear Street Markets LLC boosted its stake in shares of Brown & Brown by 93.7% during the 1st quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 223 shares in the last quarter. Studio Investment Management LLC boosted its stake in shares of Brown & Brown by 4.5% during the 4th quarter. Studio Investment Management LLC now owns 6,407 shares of the financial services provider’s stock worth $365,000 after acquiring an additional 276 shares in the last quarter. Finally, KB Financial Partners LLC boosted its stake in shares of Brown & Brown by 4.7% during the 2nd quarter. KB Financial Partners LLC now owns 6,132 shares of the financial services provider’s stock worth $422,000 after acquiring an additional 276 shares in the last quarter. 70.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group raised Brown & Brown from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $84.00 to $83.00 in a research report on Monday, January 8th. Keefe, Bruyette & Woods upped their price target on Brown & Brown from $70.00 to $75.00 and gave the stock an “underperform” rating in a research report on Friday, January 26th. Royal Bank of Canada upped their price target on Brown & Brown from $81.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research report on Wednesday, December 13th. Finally, Bank of America assumed coverage on Brown & Brown in a research report on Tuesday, December 12th. They issued a “neutral” rating and a $77.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $82.70.

View Our Latest Stock Analysis on Brown & Brown

Brown & Brown Company Profile

(Get Free Report)

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.

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Dividend History for Brown & Brown (NYSE:BRO)

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