Zacks: Analysts Expect Brown & Brown, Inc. (NYSE:BRO) Will Post Earnings of $0.75 Per Share

Analysts predict that Brown & Brown, Inc. (NYSE:BRO – Get Rating) will announce earnings of $0.75 per share for the current quarter, according to Zacks. Five analysts have made estimates for Brown & Brown’s earnings, with estimates ranging from $0.75 to $0.76. Brown & Brown reported earnings of $0.70 per share during the same quarter last year, which would indicate a positive year over year growth rate of 7.1%. The business is scheduled to report its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Brown & Brown will report full-year earnings of $2.32 per share for the current fiscal year, with EPS estimates ranging from $2.26 to $2.35. For the next financial year, analysts expect that the business will post earnings of $2.57 per share, with EPS estimates ranging from $2.50 to $2.70. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Brown & Brown.

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

A number of research firms recently weighed in on BRO. UBS Group began coverage on shares of Brown & Brown in a research report on Monday, April 18th. They issued a “neutral” rating and a $76.00 price objective on the stock. Truist Financial lifted their price objective on shares of Brown & Brown from $77.00 to $82.00 in a research report on Thursday. StockNews.com began coverage on shares of Brown & Brown in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Wells Fargo & Company lifted their price objective on shares of Brown & Brown from $64.00 to $66.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 4th. Finally, Zacks Investment Research lowered shares of Brown & Brown from a “buy” rating to a “hold” rating and set a $67.00 target price on the stock. in a research report on Thursday, January 27th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and an average price target of $69.50.

NYSE:BRO opened at $67.73 on Friday. The firm’s fifty day moving average price is $68.70 and its 200 day moving average price is $66.69. Brown & Brown has a 1-year low of $49.78 and a 1-year high of $74.00. 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 cap of $19.18 billion, a price-to-earnings ratio of 32.72 and a beta of 0.74.

In other Brown & Brown news, Director H Palmer Proctor, Jr. acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 27th. The shares were acquired at an average cost of $61.53 per share, for a total transaction of $123,060.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.67% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Brown & Brown by 2.4% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,278 shares of the financial services provider’s stock worth $441,000 after buying an additional 149 shares in the last quarter. WCM Investment Management LLC lifted its holdings in Brown & Brown by 0.7% in the 4th quarter. WCM Investment Management LLC now owns 22,524 shares of the financial services provider’s stock valued at $1,583,000 after purchasing an additional 167 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Brown & Brown by 0.5% in the 4th quarter. HighTower Advisors LLC now owns 36,040 shares of the financial services provider’s stock valued at $2,532,000 after purchasing an additional 167 shares in the last quarter. Claro Advisors LLC lifted its holdings in Brown & Brown by 4.5% in the 4th quarter. Claro Advisors LLC now owns 3,937 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 171 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in Brown & Brown by 15.0% in the 3rd quarter. Signaturefd LLC now owns 1,381 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 74.02% of the company’s stock.

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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