Brown & Brown, Inc. (BRO) to Issue Quarterly Dividend of $0.15 on February 12th

Brown & Brown, Inc. (NYSE:BRO) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Investors of record on Wednesday, February 5th will be paid a dividend of 0.15 per share by the financial services provider on Wednesday, February 12th. This represents a $0.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, February 5th.

Brown & Brown has a dividend payout ratio of 12.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Brown & Brown to earn $4.09 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 12.7%.

Brown & Brown Trading Up 0.0 %

Shares of Brown & Brown stock opened at $105.21 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $105.92 and a 200 day simple moving average of $103.59. Brown & Brown has a 12-month low of $75.79 and a 12-month high of $114.15. The company has a market capitalization of $30.08 billion, a P/E ratio of 28.67, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. On average, sell-side analysts anticipate that Brown & Brown will post 3.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BRO. Truist Financial upped their price target on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Bank of America increased their price objective on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Barclays boosted their target price on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Morgan Stanley assumed coverage on Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective for the company. Finally, StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $112.08.

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.