Brown & Brown, Inc. Forecasted to Post Q4 2024 Earnings of $0.71 Per Share (NYSE:BRO)

Brown & Brown, Inc. (NYSE:BRO) – Equities researchers at William Blair boosted their Q4 2024 earnings per share estimates for Brown & Brown in a report released on Tuesday, September 24th. William Blair analyst A. Klauber now anticipates that the financial services provider will earn $0.71 per share for the quarter, up from their prior forecast of $0.69. The consensus estimate for Brown & Brown’s current full-year earnings is $3.68 per share.

BRO has been the topic of a number of other research reports. Keefe, Bruyette & Woods raised their target price on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Citigroup raised their price objective on shares of Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Wells Fargo & Company upgraded shares of Brown & Brown from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $94.00 to $112.00 in a research note on Monday, August 12th. Truist Financial raised their price target on shares of Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.67.

Brown & Brown Trading Down 0.3 %

Shares of NYSE:BRO opened at $102.99 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. The stock’s 50-day moving average is $101.47 and its 200-day moving average is $92.32. The company has a market cap of $29.38 billion, a P/E ratio of 31.69, a P/E/G ratio of 2.37 and a beta of 0.83. Brown & Brown has a 52-week low of $66.73 and a 52-week high of $106.02.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. Brown & Brown’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business posted $0.68 EPS.

Institutional Trading of Brown & Brown

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Brown & Brown by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 28,355,305 shares of the financial services provider’s stock worth $2,482,223,000 after purchasing an additional 203,105 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Brown & Brown by 0.7% in the 2nd quarter. Principal Financial Group Inc. now owns 12,804,979 shares of the financial services provider’s stock valued at $1,144,893,000 after buying an additional 86,824 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Brown & Brown by 24.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,489,305 shares of the financial services provider’s stock worth $311,979,000 after acquiring an additional 687,783 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of Brown & Brown by 105.1% during the second quarter. Royal London Asset Management Ltd. now owns 2,068,333 shares of the financial services provider’s stock valued at $184,930,000 after acquiring an additional 1,059,711 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Brown & Brown by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,553,396 shares of the financial services provider’s stock valued at $138,899,000 after acquiring an additional 114,688 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.50%. Brown & Brown’s payout ratio is presently 16.00%.

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.