Brown & Brown (NYSE:BRO) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Brown & Brown (NYSE:BRO - Get Free Report) announced its quarterly earnings results on Monday. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.10, Zacks reports. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%.

Brown & Brown Price Performance

Shares of NYSE BRO traded up $1.93 on Monday, hitting $107.93. The company's stock had a trading volume of 2,273,183 shares, compared to its average volume of 1,644,009. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. Brown & Brown has a 12-month low of $75.79 and a 12-month high of $114.15. The company has a market capitalization of $30.86 billion, a price-to-earnings ratio of 29.41, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85. The stock has a 50 day moving average of $105.75 and a 200-day moving average of $103.89.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.56%. Brown & Brown's dividend payout ratio (DPR) is currently 16.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BRO shares. Bank of America boosted their price target on shares of Brown & Brown from $108.00 to $117.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their target price on Brown & Brown from $98.00 to $104.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. Royal Bank of Canada raised their price target on Brown & Brown from $113.00 to $118.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Morgan Stanley initiated coverage on Brown & Brown in a research note on Thursday, December 5th. They issued an "overweight" rating and a $134.00 price objective for the company. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating on the stock in a research report on Friday, January 10th. One 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's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $112.08.

About Brown & Brown

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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