Research Analysts Offer Predictions for Brown & Brown, Inc.’s Q1 2019 Earnings (BRO)

Brown & Brown, Inc. (NYSE:BRO) – Equities researchers at William Blair issued their Q1 2019 EPS estimates for Brown & Brown in a report released on Thursday. William Blair analyst A. Klauber anticipates that the financial services provider will post earnings of $0.49 per share for the quarter. William Blair also issued estimates for Brown & Brown’s Q2 2019 earnings at $0.56 EPS and Q3 2019 earnings at $0.58 EPS.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, October 16th. The financial services provider reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.04. Brown & Brown had a net margin of 14.66% and a return on equity of 10.99%. The company had revenue of $475.60 million during the quarter, compared to analyst estimates of $475.13 million. During the same period in the prior year, the business posted $0.50 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year.

A number of other research firms have also commented on BRO. SunTrust Banks upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup lowered shares of Brown & Brown from a “neutral” rating to a “sell” rating and set a $47.00 price target for the company. in a report on Wednesday, November 8th. Zacks Investment Research upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Wednesday, November 1st. Barclays upped their price target on shares of Brown & Brown from $39.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 16th. Finally, Morgan Stanley upped their price target on shares of Brown & Brown from $40.00 to $43.00 and gave the company an “underweight” rating in a report on Wednesday, October 18th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Brown & Brown currently has a consensus rating of “Hold” and an average price target of $46.11.

Brown & Brown (BRO) traded up $0.72 during trading hours on Monday, reaching $51.67. 634,083 shares of the company were exchanged, compared to its average volume of 585,134. Brown & Brown has a 52 week low of $41.10 and a 52 week high of $52.42. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.35. The company has a market cap of $7,183.47, a price-to-earnings ratio of 27.56, a P/E/G ratio of 2.77 and a beta of 0.80.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 8th. Shareholders of record on Friday, October 27th were issued a $0.15 dividend. The ex-dividend date was Thursday, October 26th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 1.16%. Brown & Brown’s dividend payout ratio is 31.75%.

In other Brown & Brown news, Director Richard Silas sold 38,000 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $0.75, for a total value of $28,500.00. Also, insider Michael Waldkirch sold 75,000 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $0.75, for a total transaction of $56,250.00. Insiders sold a total of 163,000 shares of company stock valued at $126,250 over the last 90 days. Company insiders own 16.98% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Burgundy Asset Management Ltd. grew its position in shares of Brown & Brown by 4.3% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 1,453,654 shares of the financial services provider’s stock worth $70,052,000 after buying an additional 59,459 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of Brown & Brown in the 3rd quarter worth about $471,000. Wolverine Trading LLC purchased a new stake in shares of Brown & Brown in the 3rd quarter worth about $273,000. California Public Employees Retirement System grew its position in shares of Brown & Brown by 7.8% in the 3rd quarter. California Public Employees Retirement System now owns 327,465 shares of the financial services provider’s stock worth $15,781,000 after buying an additional 23,665 shares during the period. Finally, Point72 Asset Management L.P. grew its position in shares of Brown & Brown by 600.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 80,600 shares of the financial services provider’s stock worth $3,884,000 after buying an additional 69,100 shares during the period. Institutional investors and hedge funds own 71.96% 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.

Earnings History and Estimates for Brown & Brown (NYSE:BRO)

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