Wall Street brokerages predict that Brown & Brown, Inc. (NYSE:BRO) will report $556.65 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Brown & Brown’s earnings. The highest sales estimate is $563.98 million and the lowest is $548.10 million. Brown & Brown posted sales of $473.10 million during the same quarter last year, which suggests a positive year-over-year growth rate of 17.7%. The firm is scheduled to issue its next earnings report on Monday, July 22nd.
According to Zacks, analysts expect that Brown & Brown will report full-year sales of $2.36 billion for the current year, with estimates ranging from $2.35 billion to $2.39 billion. For the next year, analysts expect that the company will post sales of $2.50 billion, with estimates ranging from $2.44 billion to $2.57 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Brown & Brown.
Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, April 22nd. The financial services provider reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.05. Brown & Brown had a return on equity of 12.47% and a net margin of 17.23%. The firm had revenue of $617.50 million during the quarter, compared to analyst estimates of $600.51 million. During the same period last year, the company earned $0.33 earnings per share. The business’s revenue for the quarter was up 23.4% on a year-over-year basis.
Shares of Brown & Brown stock traded down $0.36 during trading hours on Monday, reaching $31.59. The company had a trading volume of 60,500 shares, compared to its average volume of 1,031,569. Brown & Brown has a one year low of $25.72 and a one year high of $32.54. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.93 and a quick ratio of 0.95. The firm has a market capitalization of $9.00 billion, a P/E ratio of 25.70, a PEG ratio of 2.38 and a beta of 0.75.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Wednesday, May 8th will be issued a $0.08 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.32 annualized dividend and a dividend yield of 1.01%. Brown & Brown’s dividend payout ratio is currently 26.02%.
In other news, EVP Anthony T. Strianese sold 35,000 shares of Brown & Brown stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $29.17, for a total value of $1,020,950.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Robert W. Lloyd sold 10,601 shares of Brown & Brown stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $29.29, for a total value of $310,503.29. The disclosure for this sale can be found here. 16.69% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BRO. Vanguard Group Inc raised its stake in Brown & Brown by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 24,202,436 shares of the financial services provider’s stock valued at $715,666,000 after buying an additional 525,399 shares during the last quarter. BlackRock Inc. increased its stake in shares of Brown & Brown by 4.0% in the fourth quarter. BlackRock Inc. now owns 21,351,938 shares of the financial services provider’s stock worth $588,460,000 after buying an additional 828,759 shares during the last quarter. Clarkston Capital Partners LLC increased its stake in shares of Brown & Brown by 1.0% in the first quarter. Clarkston Capital Partners LLC now owns 4,899,516 shares of the financial services provider’s stock worth $144,585,000 after buying an additional 47,381 shares during the last quarter. APG Asset Management N.V. increased its stake in shares of Brown & Brown by 39.5% in the fourth quarter. APG Asset Management N.V. now owns 4,501,200 shares of the financial services provider’s stock worth $108,519,000 after buying an additional 1,273,500 shares during the last quarter. Finally, Fenimore Asset Management Inc. increased its stake in shares of Brown & Brown by 5.3% in the first quarter. Fenimore Asset Management Inc. now owns 2,973,331 shares of the financial services provider’s stock worth $87,743,000 after buying an additional 149,028 shares during the last quarter. Hedge funds and other institutional investors own 72.17% of the company’s stock.
About Brown & Brown
Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.
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