Brokers Offer Predictions for Brown & Brown, Inc.’s Q3 2022 Earnings (NYSE:BRO)

Brown & Brown, Inc. (NYSE:BROGet Rating) – Equities research analysts at Jefferies Financial Group lifted their Q3 2022 EPS estimates for shares of Brown & Brown in a research report issued to clients and investors on Monday, April 11th. Jefferies Financial Group analyst Y. Kinar now forecasts that the financial services provider will post earnings per share of $0.63 for the quarter, up from their prior estimate of $0.62. Jefferies Financial Group also issued estimates for Brown & Brown’s FY2023 earnings at $2.70 EPS.

Brown & Brown (NYSE:BROGet Rating) last posted its quarterly earnings results on Monday, January 24th. The financial services provider reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.04. Brown & Brown had a return on equity of 15.43% and a net margin of 19.24%. The firm had revenue of $738.50 million during the quarter, compared to analyst estimates of $725.36 million. During the same period last year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis.

Several other equities research analysts have also issued reports on the company. Wells Fargo & Company lifted their price objective on Brown & Brown from $64.00 to $66.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 4th. Royal Bank of Canada lifted their price objective on Brown & Brown from $64.00 to $67.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 26th. Raymond James lifted their price objective on Brown & Brown from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, December 21st. Zacks Investment Research lowered Brown & Brown from a “buy” rating to a “hold” rating and set a $67.00 price objective for the company. in a research note on Thursday, January 27th. Finally, StockNews.com initiated coverage on Brown & Brown in a research note on Thursday, March 31st. They set a “hold” rating for the company. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $67.11.

Brown & Brown stock opened at $71.85 on Tuesday. Brown & Brown has a one year low of $48.14 and a one year high of $74.00. The business has a fifty day moving average price of $68.26 and a 200-day moving average price of $65.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $20.34 billion, a P/E ratio of 34.64 and a beta of 0.74.

Several institutional investors have recently made changes to their positions in BRO. Concord Wealth Partners raised its holdings in shares of Brown & Brown by 1,088.2% during the fourth quarter. Concord Wealth Partners now owns 404 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 370 shares during the last quarter. West Oak Capital LLC acquired a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $39,000. Benjamin Edwards Inc. acquired a new stake in shares of Brown & Brown in the third quarter valued at approximately $54,000. TFO TDC LLC acquired a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $57,000. Finally, Covestor Ltd acquired a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $66,000. 74.02% of the stock is owned by institutional investors and hedge funds.

In other news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the company’s stock in a transaction on Thursday, January 27th. The stock was purchased at an average price of $61.53 per share, with a total value of $123,060.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.67% of the company’s stock.

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 16th. Shareholders of record on Friday, February 4th were paid a dividend of $0.1025 per share. This represents a $0.41 annualized dividend and a yield of 0.57%. The ex-dividend date was Thursday, February 3rd. Brown & Brown’s dividend payout ratio (DPR) is currently 19.81%.

Brown & Brown Company Profile (Get Rating)

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

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Earnings History and Estimates for Brown & Brown (NYSE:BRO)

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