Brown & Brown (NYSE:BRO) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Brown & Brown (NYSE:BRO) released its earnings results on Monday. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07, Briefing.com reports. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share.

Brown & Brown Stock Performance

NYSE BRO opened at $82.51 on Tuesday. Brown & Brown has a 52-week low of $60.00 and a 52-week high of $87.99. The stock has a market cap of $23.54 billion, a PE ratio of 26.96, a P/E/G ratio of 2.47 and a beta of 0.78. The firm has a 50-day moving average of $84.23 and a 200-day moving average of $76.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.95 and a current ratio of 1.95.

Wall Street Analyst Weigh In

BRO has been the subject of a number of analyst reports. UBS Group raised their target price on shares of Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Truist Financial raised their target price on shares of Brown & Brown from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Raymond James raised their target price on shares of Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Bank of America downgraded shares of Brown & Brown from a “neutral” rating to an “underperform” rating and raised their target price for the company from $80.00 to $86.00 in a research report on Wednesday, March 13th. Finally, Wells Fargo & Company increased their price target on shares of Brown & Brown from $81.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and a consensus target price of $86.80.

Insider Buying and Selling

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’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 transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 16.43% of the stock is owned by insiders.

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.