Brown & Brown (NYSE:BRO – Get Free Report) announced its earnings results on Monday. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.05, RTT News reports. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year.
Brown & Brown Trading Up 0.8 %
Shares of BRO stock traded up $0.70 during trading on Monday, hitting $93.16. 1,195,483 shares of the stock traded hands, compared to its average volume of 1,250,466. Brown & Brown has a 52-week low of $66.73 and a 52-week high of $94.28. The firm has a market capitalization of $26.57 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 2.45 and a beta of 0.82. The firm’s fifty day moving average price is $90.56 and its 200-day moving average price is $84.89. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.97.
Brown & Brown Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.13 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.56%. Brown & Brown’s dividend payout ratio is currently 16.00%.
Wall Street Analyst Weigh In
Check Out Our Latest Report on Brown & Brown
Insider Buying and Selling
In other Brown & Brown news, EVP Julie Turpin sold 3,350 shares of Brown & Brown stock in a transaction on Friday, June 7th. The stock was sold at an average price of $89.92, for a total value of $301,232.00. Following the sale, the executive vice president now owns 23,597 shares in the company, valued at $2,121,842.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 17.02% of the stock is currently owned by company insiders.
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.
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