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

Brown & Brown, Inc. (NYSE:BRO - Get Free Report) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 0.57%.

Brown & Brown has a payout ratio of 12.9% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Brown & Brown stock traded down $0.47 during midday trading on Wednesday, reaching $105.22. 1,262,514 shares of the stock traded hands, compared to its average volume of 1,609,484. Brown & Brown has a fifty-two week low of $75.79 and a fifty-two week high of $114.15. The firm has a market cap of $30.09 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 2.12 and a beta of 0.85. The firm has a fifty day moving average price of $106.19 and a two-hundred day moving average price of $103.47. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The firm's quarterly revenue was up 11.0% on a year-over-year basis. On average, equities research analysts forecast that Brown & Brown will post 3.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a research report on Friday, January 10th. Jefferies Financial Group upped their price objective on Brown & Brown from $98.00 to $104.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. Bank of America raised their price objective on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. Morgan Stanley assumed coverage on Brown & Brown in a research report on Thursday, December 5th. They set an "overweight" rating and a $134.00 target price for the company. Finally, StockNews.com downgraded Brown & Brown from a "buy" rating to a "hold" rating in a research report on Saturday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company 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.

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