Brown & Brown Inc. (BRO) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS
Monday, July 18, 2021 6:12 PM

Brown & Brown Inc. (BRO) announced its quarterly results on Monday. The company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters consensus estimate of $0.30 by $0.04. The company’s quarterly revenue was up 1.3% on a year-over-year basis.

On a related note, analysts at Zacks Investment Research reiterated a "neutral" rating on shares of Brown & Brown Inc. in a research note to investors on Wednesday, April 6th. Also, analysts at Barclays Capital (NYSE: BCS) upgraded shares of Brown & Brown Inc. from an "underweight" rating to an "equal weight" rating in a research note to investors on Wednesday, February 16th. They now have a $27.00 price target on the stock, up previously from $21.00.

Shares of Brown & Brown Inc. (BRO) traded down 2.38% during mid-day trading on Monday, hitting $23.84. Brown & Brown Inc. (BRO) has a 52 week low of $18.85 and a 52 week high of $27.07. The stock's 50-day moving average is $25.47 and its 200-day moving average is $25.37. The company has a market cap of $3.408 billion and a price-to-earnings ratio of 21.59.

Brown & Brown, Inc. (Brown & Brown) is a diversified insurance agency, wholesale brokerage, insurance programs and service organization. It markets and sells insurance products and services to its customers in the property, casualty and employee benefits areas. It has four segments: Retail Division, National Programs Division, Wholesale Brokerage Division and Services Division. Retail Division provides a range of insurance products and services to commercial, public entity, professional and individual customers. National Programs Division contains two units: Professional Programs and Special Programs. Wholesale Brokerage Division markets and sells excess and surplus commercial and personal insurance, and reinsurance through independent agents and brokers. Services Division provides clients with third-party claims administration, consulting for workers’ compensation insurance market, medical utilization management services in both workers’ compensation and all-lines liability arenas.

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