Analysts Set Expectations for Brown & Brown FY2024 Earnings

Brown & Brown, Inc. (NYSE:BRO) – Stock analysts at Zacks Research raised their FY2024 earnings per share estimates for shares of Brown & Brown in a research note issued to investors on Monday, November 18th. Zacks Research analyst T. De now forecasts that the financial services provider will post earnings of $3.72 per share for the year, up from their prior forecast of $3.67. The consensus estimate for Brown & Brown’s current full-year earnings is $3.73 per share. Zacks Research also issued estimates for Brown & Brown’s Q4 2024 earnings at $0.74 EPS, Q1 2025 earnings at $1.23 EPS, Q2 2025 earnings at $1.00 EPS, Q3 2025 earnings at $0.94 EPS, Q4 2025 earnings at $0.88 EPS, FY2025 earnings at $4.05 EPS, Q1 2026 earnings at $1.13 EPS, Q2 2026 earnings at $1.04 EPS, Q3 2026 earnings at $1.09 EPS and FY2026 earnings at $4.36 EPS.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year.

Several other equities research analysts have also recently weighed in on BRO. Raymond James upped their price target on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Bank of America lifted their price target on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Royal Bank of Canada raised their price objective on shares of Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Barclays assumed coverage on shares of Brown & Brown in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $108.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $106.50.

Brown & Brown Stock Down 0.4 %

BRO stock opened at $109.37 on Wednesday. The company has a market capitalization of $31.27 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 2.54 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The business’s 50 day moving average price is $105.63 and its two-hundred day moving average price is $98.46. Brown & Brown has a fifty-two week low of $69.13 and a fifty-two week high of $114.08.

Brown & Brown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.55%. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, November 6th. Brown & Brown’s payout ratio is 16.35%.

Insiders Place Their Bets

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 16.43% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BRO. Toronto Dominion Bank boosted its holdings in Brown & Brown by 1.4% in the 3rd quarter. Toronto Dominion Bank now owns 117,794 shares of the financial services provider’s stock worth $12,203,000 after buying an additional 1,681 shares during the period. Coldstream Capital Management Inc. grew its stake in Brown & Brown by 3.8% during the third quarter. Coldstream Capital Management Inc. now owns 29,946 shares of the financial services provider’s stock valued at $3,105,000 after acquiring an additional 1,100 shares in the last quarter. Barclays PLC increased its holdings in Brown & Brown by 17.8% in the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after acquiring an additional 371,980 shares during the last quarter. EWA LLC lifted its stake in Brown & Brown by 5.5% in the 3rd quarter. EWA LLC now owns 2,721 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 141 shares in the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of Brown & Brown by 0.8% in the 3rd quarter. MML Investors Services LLC now owns 28,710 shares of the financial services provider’s stock valued at $2,974,000 after acquiring an additional 237 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.