Q2 2024 Earnings Estimate for Brown & Brown, Inc. (NYSE:BRO) Issued By William Blair

Brown & Brown, Inc. (NYSE:BRO) – Investment analysts at William Blair boosted their Q2 2024 EPS estimates for Brown & Brown in a research note issued to investors on Tuesday, April 23rd. William Blair analyst A. Klauber now anticipates that the financial services provider will earn $0.87 per share for the quarter, up from their prior 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.

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 net margin of 21.09% and a return on equity of 16.43%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company posted $0.84 EPS.

A number of other equities research analysts have also issued reports on the stock. Wells Fargo & Company increased their target price on shares of Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday. Royal Bank of Canada increased their target price on shares of Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Raymond James increased their target price on shares of Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Sunday, March 17th. Finally, Truist Financial increased their target price on shares of Brown & Brown from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $87.10.

Brown & Brown Stock Performance

NYSE:BRO opened at $82.13 on Thursday. The stock has a market capitalization of $23.43 billion, a P/E ratio of 25.27, a PEG ratio of 2.49 and a beta of 0.78. Brown & Brown has a fifty-two week low of $60.00 and a fifty-two week high of $87.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.95 and a current ratio of 1.97. The company has a 50 day moving average price of $84.30 and a 200 day moving average price of $76.99.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Friday, May 3rd. Brown & Brown’s payout ratio is currently 16.00%.

Insiders Place Their Bets

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction on 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 transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its position in 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 worth $1,768,000 after purchasing an additional 11,559 shares during the last quarter. Patton Fund Management Inc. purchased a new stake in shares of Brown & Brown in the fourth quarter valued at about $4,765,000. Whittier Trust Co. boosted its holdings in shares of Brown & Brown by 12.1% in the fourth quarter. Whittier Trust Co. now owns 162,226 shares of the financial services provider’s stock valued at $11,536,000 after acquiring an additional 17,479 shares in the last quarter. WCM Investment Management LLC boosted its holdings in shares of Brown & Brown by 13.4% in the fourth quarter. WCM Investment Management LLC now owns 107,979 shares of the financial services provider’s stock valued at $7,658,000 after acquiring an additional 12,748 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Brown & Brown by 28.7% in the third quarter. Toronto Dominion Bank now owns 277,331 shares of the financial services provider’s stock valued at $19,369,000 after acquiring an additional 61,800 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

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.