Brown & Brown, Inc. (NYSE:BRO) Declares $0.15 Quarterly Dividend

Brown & Brown, Inc. (NYSE:BRO - Get Free Report) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders of record on Wednesday, February 5th will be given a dividend of 0.15 per share by the financial services provider on Wednesday, February 12th. This represents a $0.60 dividend on an annualized basis and a yield of 0.57%.

Brown & Brown has a payout ratio of 12.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Brown & Brown to earn $4.11 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 12.7%.

Brown & Brown Price Performance

Brown & Brown stock traded down $0.47 during midday trading on Wednesday, reaching $105.22. The company's stock had a trading volume of 1,262,514 shares, compared to its average volume of 1,612,255. Brown & Brown has a fifty-two week low of $75.79 and a fifty-two week high of $114.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The stock's 50 day simple moving average is $106.19 and its 200 day simple moving average is $103.47. The firm has a market capitalization of $30.09 billion, a PE ratio of 28.67, a P/E/G ratio of 2.12 and a beta of 0.85.

Brown & Brown (NYSE:BRO - Get Free Report) last released its 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 return on equity of 17.12% and a net margin of 22.65%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company earned $0.71 earnings per share. Brown & Brown's quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts forecast that Brown & Brown will post 3.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods reduced their target price on Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a report on Friday, January 10th. Argus initiated coverage on Brown & Brown in a research report on Tuesday, September 24th. They issued a "buy" rating and a $120.00 price target for the company. Jefferies Financial Group raised their price target on Brown & Brown from $98.00 to $104.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. Truist Financial raised their price target on Brown & Brown from $116.00 to $118.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price target on Brown & Brown from $112.00 to $114.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $112.08.

Brown & Brown Company Profile

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.