Brown & Brown, Inc. (BRO) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Brown & Brown, Inc. (NYSE:BRO) issued its earnings results on Monday. The financial services provider reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02, Bloomberg Earnings reports. The firm had revenue of $466.30 million for the quarter, compared to analyst estimates of $465.48 million. Brown & Brown had a return on equity of 11.29% and a net margin of 14.68%. Brown & Brown’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share.
Shares of Brown & Brown (NYSE BRO) traded down 0.67% on Monday, reaching $43.01. The company’s stock had a trading volume of 667,906 shares. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 23.00 and a beta of 0.77. Brown & Brown has a 1-year low of $35.81 and a 1-year high of $45.77. The stock has a 50-day moving average price of $43.19 and a 200-day moving average price of $43.24.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 9th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Monday, August 7th. Brown & Brown’s payout ratio is presently 28.88%.
In other Brown & Brown news, EVP Anthony T. Strianese sold 24,562 shares of Brown & Brown stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $42.24, for a total value of $1,037,498.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 16.98% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Brown & Brown, Inc. (BRO) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS” was published by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/07/17/brown-brown-inc-bro-announces-quarterly-earnings-results-beats-expectations-by-0-02-eps.html.
BRO has been the topic of a number of recent research reports. Zacks Investment Research upgraded Brown & Brown from a “sell” rating to a “hold” rating in a research report on Wednesday, March 29th. Wells Fargo & Company reiterated a “hold” rating on shares of Brown & Brown in a research report on Monday. BidaskClub upgraded Brown & Brown from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Royal Bank Of Canada reiterated a “hold” rating and issued a $44.00 target price on shares of Brown & Brown in a research report on Tuesday, June 13th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and issued a $46.00 target price (up previously from $44.00) on shares of Brown & Brown in a research report on Friday, May 19th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Brown & Brown presently has an average rating of “Hold” and a consensus target price of $42.57.
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.
Receive News & Ratings for Brown & Brown Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brown & Brown Inc. and related companies with MarketBeat.com's FREE daily email newsletter.