Brown & Brown, Inc. (NYSE:BRO) to Issue $0.15 Quarterly Dividend

Brown & Brown, Inc. (NYSE:BRO - Get Free Report) declared a quarterly dividend on Monday, April 28th, RTT News reports. Shareholders of record on Monday, May 12th will be given a dividend of 0.15 per share by the financial services provider on Wednesday, May 21st. This represents a $0.60 annualized dividend and a yield of 0.52%.

Brown & Brown has a payout ratio of 12.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Brown & Brown to earn $4.54 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 11.5%.

Brown & Brown Price Performance

Shares of NYSE BRO traded up $0.42 during mid-day trading on Monday, hitting $114.86. 2,105,836 shares of the company's stock traded hands, compared to its average volume of 1,442,087. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown has a 1 year low of $80.91 and a 1 year high of $125.68. The company's 50-day moving average is $118.02 and its two-hundred day moving average is $110.55. The company has a market capitalization of $32.84 billion, a P/E ratio of 33.20, a PEG ratio of 2.93 and a beta of 0.75.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, equities analysts anticipate that Brown & Brown will post 4.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on BRO shares. Royal Bank of Canada lifted their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Barclays lifted their price target on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Wells Fargo & Company increased their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Truist Financial boosted their target price on Brown & Brown from $118.00 to $138.00 and gave the company a "buy" rating in a research report on Tuesday, April 15th. Finally, Jefferies Financial Group increased their price target on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $117.50.

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.

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