Brown & Brown, Inc. (NYSE:BRO) to Post Q2 2024 Earnings of $0.87 Per Share, William Blair Forecasts

Brown & Brown, Inc. (NYSE:BRO) – Stock analysts at William Blair increased their Q2 2024 EPS estimates for Brown & Brown in a research report issued on Tuesday, April 23rd. William Blair analyst A. Klauber now anticipates that the financial services provider will post earnings of $0.87 per share for the quarter, up from their prior estimate of $0.84. The consensus estimate for Brown & Brown’s current full-year earnings is $3.61 per share. William Blair also issued estimates for Brown & Brown’s FY2024 earnings at $3.59 EPS, Q1 2025 earnings at $1.22 EPS, Q2 2025 earnings at $0.94 EPS, Q3 2025 earnings at $0.95 EPS, Q4 2025 earnings at $0.79 EPS and FY2025 earnings at $3.89 EPS.

BRO has been the subject of several other research reports. Jefferies Financial Group downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating and decreased their price objective for the company from $85.00 to $78.00 in a research note on Tuesday, January 9th. Bank of America downgraded shares of Brown & Brown from a “neutral” rating to an “underperform” rating and upped their price objective for the company from $80.00 to $86.00 in a research note on Wednesday, March 13th. Raymond James upped their price objective on shares of Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Truist Financial upped their price objective on shares of Brown & Brown from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their target price on shares of Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $87.10.

Brown & Brown Stock Performance

Shares of BRO stock opened at $81.45 on Thursday. The company has a current ratio of 1.97, a quick ratio of 1.95 and a debt-to-equity ratio of 0.52. Brown & Brown has a 12 month low of $61.71 and a 12 month high of $87.99. The company has a market cap of $23.24 billion, a P/E ratio of 25.06, a PEG ratio of 2.25 and a beta of 0.78. The firm has a fifty day moving average price of $84.29 and a 200 day moving average price of $77.06.

Brown & Brown (NYSE:BRO) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 earnings per share.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BRO. Global Retirement Partners LLC raised its holdings in Brown & Brown by 37.8% during the third quarter. Global Retirement Partners LLC now owns 758 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 208 shares in the last quarter. HB Wealth Management LLC purchased a new position in Brown & Brown in the third quarter valued at about $209,000. Oak Thistle LLC increased its holdings in Brown & Brown by 209.5% in the third quarter. Oak Thistle LLC now owns 31,097 shares of the financial services provider’s stock valued at $2,172,000 after buying an additional 21,051 shares in the last quarter. Czech National Bank increased its holdings in Brown & Brown by 47.6% in the third quarter. Czech National Bank now owns 41,142 shares of the financial services provider’s stock valued at $2,873,000 after buying an additional 13,273 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in Brown & Brown by 3.4% in the third quarter. Asset Management One Co. Ltd. now owns 97,918 shares of the financial services provider’s stock valued at $6,839,000 after buying an additional 3,184 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 17.02% of the stock is currently owned by corporate insiders.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.52 annualized dividend and a yield of 0.64%. Brown & Brown’s dividend payout ratio is currently 16.00%.

About Brown & Brown

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.