William Blair Comments on Brown & Brown, Inc.’s Q2 2024 Earnings (NYSE:BRO)

Brown & Brown, Inc. (NYSE:BRO) – Investment analysts at William Blair upped their Q2 2024 earnings per share estimates for shares of Brown & Brown in a report issued on Tuesday, April 23rd. William Blair analyst A. Klauber now forecasts that the financial services provider will post earnings per share of $0.87 for the quarter, up from their previous 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.

BRO has been the subject of a number of other research reports. Jefferies Financial Group cut Brown & Brown from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $85.00 to $78.00 in a research report on Tuesday, January 9th. Raymond James raised their price objective on Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. UBS Group raised their price objective on Brown & Brown from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Wells Fargo & Company lifted their price target on Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research report on Sunday, March 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $87.10.

Brown & Brown Stock Up 0.2 %

Brown & Brown stock opened at $82.27 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.95. The stock has a market capitalization of $23.47 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 2.49 and a beta of 0.78. Brown & Brown has a 1-year low of $61.71 and a 1-year high of $87.99. The business has a fifty day moving average price of $84.30 and a 200-day moving average price of $77.02.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS.

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 paid 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 dividend yield of 0.63%. Brown & Brown’s payout ratio is currently 16.00%.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of Brown & Brown stock in a transaction dated 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 owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 17.02% of the company’s stock.

Hedge Funds Weigh In On Brown & Brown

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC raised its stake in shares of Brown & Brown by 86.9% during the 4th quarter. SG Americas Securities LLC now owns 24,866 shares of the financial services provider’s stock valued at $1,768,000 after buying an additional 11,559 shares during the last quarter. Patton Fund Management Inc. purchased a new position in shares of Brown & Brown in the 4th quarter valued at about $4,765,000. Whittier Trust Co. increased its stake in shares of Brown & Brown by 12.1% in the 4th quarter. Whittier Trust Co. now owns 162,226 shares of the financial services provider’s stock valued at $11,536,000 after purchasing an additional 17,479 shares in the last quarter. WCM Investment Management LLC increased its stake in shares of Brown & Brown by 13.4% in the 4th quarter. WCM Investment Management LLC now owns 107,979 shares of the financial services provider’s stock valued at $7,658,000 after purchasing an additional 12,748 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of Brown & Brown by 28.7% in the 3rd quarter. Toronto Dominion Bank now owns 277,331 shares of the financial services provider’s stock valued at $19,369,000 after purchasing an additional 61,800 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

About Brown & Brown

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.