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

Brown & Brown, Inc. (NYSE:BRO - Free Report) - Analysts at William Blair upped their Q2 2024 earnings per share estimates for Brown & Brown in a report released 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 $3.57 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.

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

A number of other research firms also recently commented on BRO. Bank of America downgraded Brown & Brown from a "neutral" rating to an "underperform" rating and lifted their target price for the company from $80.00 to $86.00 in a research report on Wednesday, March 13th. StockNews.com upgraded Brown & Brown from a "hold" rating to a "buy" rating in a report on Sunday, March 17th. Keefe, Bruyette & Woods upped their price target on Brown & Brown from $75.00 to $80.00 and gave the stock an "underperform" rating in a report on Wednesday, April 10th. Wells Fargo & Company upped their price target on Brown & Brown from $84.00 to $85.00 and gave the stock an "equal weight" rating in a report on Wednesday. Finally, Royal Bank of Canada upped their price target on Brown & Brown from $87.00 to $95.00 and gave the stock an "outperform" rating in a report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Brown & Brown currently has an average rating of "Hold" and a consensus target price of $87.10.

Brown & Brown Trading Up 0.2 %

NYSE:BRO traded up $0.14 on Thursday, reaching $82.27. The company's stock had a trading volume of 1,608,686 shares, compared to its average volume of 1,345,231. Brown & Brown has a 12-month low of $61.71 and a 12-month high of $87.99. The company has a quick ratio of 1.95, a current ratio of 1.97 and a debt-to-equity ratio of 0.52. The firm has a market cap of $23.47 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78. The stock has a 50 day moving average price of $84.30 and a 200 day moving average price of $77.02.

Hedge Funds Weigh In On Brown & Brown

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Brown & Brown by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 28,152,200 shares of the financial services provider's stock valued at $2,001,903,000 after purchasing an additional 266,441 shares in the last quarter. Principal Financial Group Inc. increased its position in Brown & Brown by 2.4% during the fourth quarter. Principal Financial Group Inc. now owns 12,325,905 shares of the financial services provider's stock worth $876,495,000 after buying an additional 294,143 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Brown & Brown by 0.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,236,392 shares of the financial services provider's stock worth $372,360,000 after buying an additional 29,514 shares in the last quarter. Norges Bank purchased a new position in Brown & Brown during the fourth quarter worth $217,663,000. Finally, Northern Trust Corp increased its position in Brown & Brown by 6.1% during the third quarter. Northern Trust Corp now owns 2,285,511 shares of the financial services provider's stock worth $159,620,000 after buying an additional 130,647 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was 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 approximately $3,220,113,605.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 17.02% of the company's stock.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.52 dividend on an annualized basis and a yield of 0.63%. Brown & Brown's payout ratio is 16.00%.

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.