Brown & Brown (BRO) Set to Announce Quarterly Earnings on Monday

Brown & Brown (NYSE:BRO) will issue its quarterly earnings data after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $1.01 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. The company had revenue of $1.03 billion for the quarter. During the same period in the prior year, the company earned $0.50 EPS. On average, analysts expect Brown & Brown to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Brown & Brown Trading Up 1.3 %

Shares of Brown & Brown stock opened at $82.17 on Friday. Brown & Brown has a fifty-two week low of $59.91 and a fifty-two week high of $87.99. The firm has a market cap of $23.45 billion, a PE ratio of 26.85, a P/E/G ratio of 2.50 and a beta of 0.78. The business’s fifty day moving average is $84.23 and its two-hundred day moving average is $76.72. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.58.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 17.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. First Capital Advisors Group LLC. purchased a new position in Brown & Brown in the second quarter valued at about $26,000. Clear Street Markets LLC increased its position in shares of Brown & Brown by 93.7% during the first quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 223 shares during the last quarter. Quarry LP increased its position in shares of Brown & Brown by 233.8% during the first quarter. Quarry LP now owns 801 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 561 shares during the last quarter. First Horizon Advisors Inc. purchased a new stake in shares of Brown & Brown during the first quarter worth about $47,000. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of Brown & Brown during the second quarter worth about $52,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BRO has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered Brown & Brown from a “buy” rating to a “hold” rating and reduced their price target for the stock from $85.00 to $78.00 in a research note on Tuesday, January 9th. Citigroup lifted their target price on Brown & Brown from $89.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group lifted their target price on Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Monday, January 29th. The Goldman Sachs Group upgraded Brown & Brown from a “neutral” rating to a “buy” rating and reduced their target price for the company from $84.00 to $83.00 in a report on Monday, January 8th. Finally, Raymond James lifted their target price on Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Brown & Brown currently has an average rating of “Hold” and a consensus target price of $86.80.

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.