Brown & Brown, Inc. (NYSE:BRO) Announces Quarterly Dividend of $0.09

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Brown & Brown, Inc. (NYSE:BRO) announced a quarterly dividend on Wednesday, January 22nd, Zacks reports. Shareholders of record on Wednesday, February 5th will be given a dividend of 0.085 per share by the financial services provider on Wednesday, February 19th. This represents a $0.34 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Tuesday, February 4th.

Brown & Brown has raised its dividend by an average of 7.0% per year over the last three years and has increased its dividend annually for the last 19 consecutive years. Brown & Brown has a payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Brown & Brown to earn $1.51 per share next year, which means the company should continue to be able to cover its $0.34 annual dividend with an expected future payout ratio of 22.5%.

NYSE:BRO opened at $41.79 on Friday. The company has a market capitalization of $11.67 billion, a PE ratio of 29.85, a P/E/G ratio of 2.74 and a beta of 0.69. The company has a 50 day simple moving average of $39.70 and a two-hundred day simple moving average of $37.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 0.97. Brown & Brown has a fifty-two week low of $26.23 and a fifty-two week high of $41.88.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, October 28th. The financial services provider reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. The business had revenue of $618.70 million during the quarter, compared to the consensus estimate of $610.36 million. Brown & Brown had a net margin of 17.04% and a return on equity of 12.39%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. Research analysts predict that Brown & Brown will post 1.39 EPS for the current year.

Several analysts have recently commented on the stock. Barclays raised their price objective on shares of Brown & Brown from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 2nd. Morgan Stanley raised shares of Brown & Brown from an “underweight” rating to an “equal” rating and set a $38.00 price objective for the company in a research report on Thursday, December 5th. Raymond James raised their price objective on shares of Brown & Brown from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. SunTrust Banks reiterated a “buy” rating and issued a $46.00 target price on shares of Brown & Brown in a report on Wednesday, January 15th. Finally, ValuEngine cut Brown & Brown from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Brown & Brown has an average rating of “Hold” and a consensus price target of $36.20.

In other Brown & Brown news, EVP Jerome Scott Penny sold 30,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $39.47, for a total transaction of $1,184,100.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 16.69% of the stock is currently owned by company insiders.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.

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Dividend History for Brown & Brown (NYSE:BRO)

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