Brown & Brown, Inc. Plans Quarterly Dividend of $0.15 (NYSE:BRO)

Brown & Brown, Inc. (NYSE:BRO) declared a quarterly dividend on Monday, April 28th, RTT News reports. Stockholders of record on Monday, May 12th will be paid a dividend of 0.15 per share by the financial services provider on Wednesday, May 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.52%.

Brown & Brown has a payout ratio of 12.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Brown & Brown to earn $4.54 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 11.5%.

Brown & Brown Price Performance

BRO opened at $114.86 on Tuesday. The company has a fifty day simple moving average of $118.08 and a 200 day simple moving average of $110.62. The firm has a market cap of $32.84 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 2.93 and a beta of 0.75. Brown & Brown has a twelve month low of $80.91 and a twelve month high of $125.68. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. Equities research analysts expect that Brown & Brown will post 4.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BRO. Barclays upped their price objective on Brown & Brown from $119.00 to $121.00 and gave the company an “equal weight” rating in a research note on Friday, April 11th. Jefferies Financial Group increased their price target on Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a research note on Friday, April 11th. UBS Group increased their price target on Brown & Brown from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, April 9th. Royal Bank of Canada raised their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Truist Financial raised their target price on Brown & Brown from $118.00 to $138.00 and gave the stock a “buy” rating in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $117.50.

Brown & Brown Company Profile

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.