FY2024 EPS Estimate for Brown & Brown Increased by Analyst

Brown & Brown, Inc. (NYSE:BRO) – Stock analysts at Zacks Research boosted their FY2024 earnings per share estimates for Brown & Brown in a note issued to investors on Monday, November 18th. Zacks Research analyst T. De now expects that the financial services provider will earn $3.72 per share for the year, up from their previous estimate of $3.67. The consensus estimate for Brown & Brown’s current full-year earnings is $3.73 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.

Several other research firms also recently weighed in on BRO. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Keefe, Bruyette & Woods increased their target price on Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Barclays began coverage on Brown & Brown in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 target price on the stock. Royal Bank of Canada raised their price objective on Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Raymond James raised their price objective on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One equities research 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. Based on data from MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and a consensus price target of $106.50.

Brown & Brown Stock Up 0.2 %

BRO opened at $109.61 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. The firm has a market cap of $31.34 billion, a P/E ratio of 29.87, a PEG ratio of 2.54 and a beta of 0.82. Brown & Brown has a 52 week low of $69.13 and a 52 week high of $114.08. The business’s fifty day simple moving average is $105.80 and its 200 day simple moving average is $98.54.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data 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. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BRO. Avantax Advisory Services Inc. grew its position in shares of Brown & Brown by 6.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,174 shares of the financial services provider’s stock worth $365,000 after acquiring an additional 238 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Brown & Brown by 19.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 19,475 shares of the financial services provider’s stock worth $1,705,000 after acquiring an additional 3,139 shares in the last quarter. UniSuper Management Pty Ltd grew its position in shares of Brown & Brown by 429.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 13,751 shares of the financial services provider’s stock worth $1,204,000 after acquiring an additional 11,155 shares in the last quarter. Lake Street Advisors Group LLC acquired a new position in shares of Brown & Brown in the 1st quarter worth approximately $204,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Brown & Brown by 4.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 152,299 shares of the financial services provider’s stock worth $13,337,000 after purchasing an additional 7,048 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Activity

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.43% of the company’s stock.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were paid a $0.15 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

About Brown & Brown

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.