Brown & Brown (BRO) Set to Announce Quarterly Earnings on Monday

Brown & Brown (NYSE:BRO) is scheduled to announce its earnings results after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $1.01 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The firm had revenue of $1.03 billion during the quarter. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. During the same quarter in the prior year, the company posted $0.50 earnings per share. On average, analysts expect Brown & Brown to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Brown & Brown Trading Up 1.3 %

Shares of NYSE:BRO opened at $82.17 on Friday. The stock has a market capitalization of $23.45 billion, a PE ratio of 26.85, a P/E/G ratio of 2.50 and a beta of 0.78. Brown & Brown has a 1 year low of $59.91 and a 1 year high of $87.99. The firm has a fifty day moving average price of $84.23 and a 200 day moving average price of $76.72. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.58.

Insiders Place Their Bets

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were 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 of the company’s stock, valued at $3,220,113,605.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 17.02% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. First Capital Advisors Group LLC. acquired a new position in shares of Brown & Brown during the second quarter valued at about $26,000. Clear Street Markets LLC raised its position in Brown & Brown by 93.7% in the first quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 223 shares in the last quarter. Quarry LP raised its position in Brown & Brown by 233.8% in the first quarter. Quarry LP now owns 801 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 561 shares in the last quarter. First Horizon Advisors Inc. acquired a new position in Brown & Brown in the first quarter worth about $47,000. Finally, Atlas Capital Advisors LLC acquired a new position in Brown & Brown in the second quarter worth about $52,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BRO shares. Citigroup upped their price objective on shares of Brown & Brown from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Financial Group cut shares of Brown & Brown from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $85.00 to $78.00 in a report on Tuesday, January 9th. StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Sunday, March 17th. Raymond James boosted their target price on shares of Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Finally, Bank of America lowered shares of Brown & Brown from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from $80.00 to $86.00 in a research report on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $86.80.

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.