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

Brown & Brown, Inc. (NYSE:BRO) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders of record on Wednesday, February 5th will be paid 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%. The ex-dividend date is Wednesday, February 5th.

Brown & Brown has a dividend payout ratio of 12.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Brown & Brown to earn $4.52 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 11.5%.

Brown & Brown Stock Performance

Shares of Brown & Brown stock opened at $104.65 on Monday. Brown & Brown has a fifty-two week low of $75.79 and a fifty-two week high of $114.15. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.73. The firm has a market capitalization of $29.93 billion, a P/E ratio of 30.25, a P/E/G ratio of 2.75 and a beta of 0.86. The company’s 50 day moving average price is $105.25 and its two-hundred day moving average price is $104.32.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, equities analysts forecast that Brown & Brown will post 4.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BRO shares. Bank of America raised their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Jefferies Financial Group raised their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Truist Financial raised their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays raised their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Finally, Morgan Stanley started coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus price target of $113.17.

About Brown & Brown

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.