Brown & Brown FY2024 EPS Forecast Boosted by Zacks Research

Brown & Brown, Inc. (NYSE:BRO) – Analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for Brown & Brown in a research note issued to investors on Monday, November 18th. Zacks Research analyst T. De now expects that the financial services provider will post earnings of $3.72 per share for the year, up from their previous forecast of $3.67. The consensus estimate for Brown & Brown’s current full-year earnings is $3.74 per share. Zacks Research also issued estimates for Brown & Brown’s Q4 2024 earnings at $0.74 EPS, Q1 2025 earnings at $1.23 EPS, Q2 2025 earnings at $1.00 EPS, Q3 2025 earnings at $0.94 EPS, Q4 2025 earnings at $0.88 EPS, FY2025 earnings at $4.05 EPS, Q1 2026 earnings at $1.13 EPS, Q2 2026 earnings at $1.04 EPS, Q3 2026 earnings at $1.09 EPS and FY2026 earnings at $4.36 EPS.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business posted $0.71 EPS. Brown & Brown’s quarterly revenue was up 11.0% on a year-over-year basis.

BRO has been the subject of several other reports. Keefe, Bruyette & Woods increased their price objective on Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Bank of America raised their price objective on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Jefferies Financial Group upped their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, Barclays boosted their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $107.42.

Brown & Brown Trading Up 1.2 %

NYSE:BRO opened at $110.95 on Wednesday. Brown & Brown has a one year low of $69.13 and a one year high of $114.08. The company has a market cap of $31.73 billion, a PE ratio of 30.18, a PEG ratio of 2.52 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a 50-day moving average of $105.80 and a 200-day moving average of $98.54.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.54%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, November 6th. Brown & Brown’s dividend payout ratio is 16.35%.

Insiders Place Their Bets

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. Company insiders own 17.02% of the company’s stock.

Institutional Trading of Brown & Brown

Institutional investors have recently modified their holdings of the business. Brooklyn Investment Group bought a new stake in Brown & Brown during the 3rd quarter valued at $26,000. ST Germain D J Co. Inc. raised its stake in shares of Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Brown & Brown during the 3rd quarter worth about $29,000. Crewe Advisors LLC boosted its stake in Brown & Brown by 330.4% in the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 228 shares during the period. Finally, Larson Financial Group LLC grew its holdings in Brown & Brown by 65.7% during the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after buying an additional 211 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

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.