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

Brown & Brown, Inc. (NYSE:BRO) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Investors of record on Wednesday, February 5th will be given a dividend of 0.15 per share by the financial services provider on Wednesday, February 12th. This represents a $0.60 dividend on an annualized basis and a yield of 0.57%.

Brown & Brown has a payout ratio of 12.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Brown & Brown to earn $4.11 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 12.7%.

Brown & Brown Price Performance

Shares of BRO stock traded down $0.47 during trading hours on Wednesday, reaching $105.22. 1,262,514 shares of the company were exchanged, compared to its average volume of 1,609,484. The stock’s fifty day moving average is $106.19 and its two-hundred day moving average is $103.47. Brown & Brown has a fifty-two week low of $75.79 and a fifty-two week high of $114.15. The company has a market cap of $30.09 billion, a price-to-earnings ratio of 28.67, a P/E/G ratio of 2.12 and a beta of 0.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company earned $0.71 EPS. The business’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts forecast that Brown & Brown will post 3.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BRO shares. Jefferies Financial Group increased their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Morgan Stanley started coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price on the stock. Royal Bank of Canada raised their target price on shares of Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price target on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Bank of America raised their target price on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Brown & Brown currently has an average rating of “Hold” and an average target price of $112.08.

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.