Brown & Brown, Inc. (NYSE:BRO) declared a quarterly dividend on Friday, January 19th, RTT News reports. Shareholders of record on Friday, February 2nd will be given a dividend of 0.15 per share by the financial services provider on Wednesday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 1.14%.
Brown & Brown has increased its dividend by an average of 10.6% annually over the last three years and has increased its dividend every year for the last 17 years. Brown & Brown has a dividend payout ratio of 31.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Brown & Brown to earn $2.23 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 26.9%.
Brown & Brown (NYSE BRO) traded up $0.14 during trading hours on Friday, reaching $52.50. 725,377 shares of the company’s stock were exchanged, compared to its average volume of 468,000. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.35. The stock has a market cap of $7,329.85, a PE ratio of 27.78, a P/E/G ratio of 2.36 and a beta of 0.79. Brown & Brown has a one year low of $41.10 and a one year high of $52.86.
Several equities analysts have recently commented on the stock. Langen Mcalenn reaffirmed a “buy” rating on shares of Brown & Brown in a research report on Tuesday. Zacks Investment Research raised shares of Brown & Brown from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Tuesday, January 2nd. Morgan Stanley increased their price target on shares of Brown & Brown from $40.00 to $43.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 18th. Wells Fargo & Co set a $45.00 price target on shares of Brown & Brown and gave the stock a “hold” rating in a research report on Monday, October 16th. Finally, Barclays increased their price target on shares of Brown & Brown from $39.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $46.38.
In other news, Director Richard Silas sold 50,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $0.83, for a total transaction of $41,500.00. Company insiders own 16.98% of the company’s stock.
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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.
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