Brown & Brown, Inc. Announces Quarterly Dividend of $0.15 (NYSE:BRO)

Brown & Brown, Inc. (NYSE:BRO) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders 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 dividend yield of 0.57%.

Brown & Brown has a dividend payout ratio of 12.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Brown & Brown to earn $4.11 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 Stock Performance

Shares of BRO stock opened at $105.22 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market cap of $30.09 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85. The stock has a 50-day moving average of $105.92 and a 200-day moving average of $103.59. Brown & Brown has a one year low of $75.79 and a one year high of $114.15.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm earned $0.71 EPS. Brown & Brown’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Brown & Brown will post 3.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Bank of America boosted their price objective on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their price objective on Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada upped their price target on Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial upped their price target on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays upped their price target 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $112.08.

About Brown & Brown

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.