Brown & Brown, Inc. Forecasted to Earn Q1 2019 Earnings of $0.49 Per Share (BRO)

Brown & Brown, Inc. (NYSE:BRO) – Stock analysts at William Blair issued their Q1 2019 EPS estimates for Brown & Brown in a report released on Thursday. William Blair analyst A. Klauber expects that the financial services provider will post earnings per share of $0.49 for the quarter. William Blair also issued estimates for Brown & Brown’s Q2 2019 earnings at $0.56 EPS and Q3 2019 earnings at $0.58 EPS.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 16th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The firm had revenue of $475.60 million during the quarter, compared to the consensus estimate of $475.13 million. Brown & Brown had a net margin of 14.66% and a return on equity of 10.99%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.50 earnings per share.

Other equities analysts also recently issued research reports about the stock. SunTrust Banks upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a research note on Wednesday. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $45.00 target price on shares of Brown & Brown in a research note on Monday, October 16th. BidaskClub upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Citigroup downgraded shares of Brown & Brown from a “neutral” rating to a “sell” rating and set a $47.00 target price for the company. in a research note on Wednesday, November 8th. Finally, Wells Fargo & Company set a $45.00 target price on shares of Brown & Brown and gave the stock a “hold” rating in a research note on Monday, October 16th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Brown & Brown currently has a consensus rating of “Hold” and an average price target of $46.11.

Brown & Brown (BRO) traded up $0.72 on Monday, hitting $51.67. 634,083 shares of the stock traded hands, compared to its average volume of 585,134. The stock has a market capitalization of $7,183.47, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 2.77 and a beta of 0.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.97 and a quick ratio of 0.97. Brown & Brown has a 52-week low of $41.10 and a 52-week high of $52.42.

Large investors have recently modified their holdings of the stock. Comerica Bank grew its stake in Brown & Brown by 0.9% during the second quarter. Comerica Bank now owns 90,104 shares of the financial services provider’s stock valued at $3,987,000 after acquiring an additional 772 shares in the last quarter. Prudential Financial Inc. grew its stake in Brown & Brown by 48.5% during the second quarter. Prudential Financial Inc. now owns 257,442 shares of the financial services provider’s stock valued at $11,088,000 after acquiring an additional 84,120 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Brown & Brown by 5.9% during the second quarter. Russell Investments Group Ltd. now owns 83,762 shares of the financial services provider’s stock valued at $3,607,000 after acquiring an additional 4,652 shares in the last quarter. Wedbush Securities Inc. purchased a new position in Brown & Brown during the third quarter valued at approximately $277,000. Finally, Mutual of America Capital Management LLC grew its stake in Brown & Brown by 2.6% during the second quarter. Mutual of America Capital Management LLC now owns 99,331 shares of the financial services provider’s stock valued at $4,278,000 after acquiring an additional 2,518 shares in the last quarter. 71.96% of the stock is owned by institutional investors.

In related news, Director Richard Silas sold 38,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $0.75, for a total transaction of $28,500.00. Also, insider Michael Waldkirch sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $0.75, for a total transaction of $56,250.00. In the last ninety days, insiders have sold 163,000 shares of company stock valued at $126,250. 16.98% of the stock is owned by corporate insiders.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 8th. Investors of record on Friday, October 27th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, October 26th. This represents a $0.60 annualized dividend and a yield of 1.16%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.14. Brown & Brown’s payout ratio is currently 31.75%.

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About Brown & Brown

Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.

Earnings History and Estimates for Brown & Brown (NYSE:BRO)

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