Brown & Brown, Inc. (BRO) To Go Ex-Dividend on August 12th

Brown & Brown, Inc. (NYSE:BRO) declared a quarterly dividend on Wednesday, July 22nd. Investors of record on Wednesday, August 12th will be given a dividend of 0.165 per share by the financial services provider on Wednesday, August 19th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, August 12th.

Brown & Brown has increased its dividend payment by an average of 0.1%annually over the last three years. Brown & Brown has a payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Brown & Brown to earn $4.87 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 13.6%.

Brown & Brown Stock Up 0.5%

Brown & Brown stock opened at $65.75 on Friday. The stock has a market cap of $22.29 billion, a PE ratio of 21.14, a P/E/G ratio of 3.02 and a beta of 0.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64. The stock’s fifty day moving average is $62.05 and its two-hundred day moving average is $66.74. Brown & Brown has a 1-year low of $53.81 and a 1-year high of $104.25.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the firm posted $1.29 EPS. The business’s quarterly revenue was up 35.4% compared to the same quarter last year. On average, sell-side analysts expect that Brown & Brown will post 4.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BRO. UBS Group reaffirmed a “neutral” rating and issued a $73.00 price target (up from $65.00) on shares of Brown & Brown in a report on Wednesday, July 8th. Truist Financial reduced their price objective on shares of Brown & Brown from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. The Goldman Sachs Group upped their target price on shares of Brown & Brown from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Barclays lifted their target price on Brown & Brown from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings downgraded Brown & Brown from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $78.62.

About Brown & Brown

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.