We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Brown & Brown (BRO) Rewards Shareholders With Dividend Hike
Read MoreHide Full Article
Brown & Brown, Inc.’s (BRO - Free Report) board of directors recently approved a 8.8% hike in its quarterly dividend in a bid to enhance shareholder value. With this, the payout now stands at 9.25 cents per share compared with the earlier payout of 8.5 cents per share.
The dividend, which marked the 27th straight year of dividend hike, will be paid on Nov 18, 2020 to shareholders of record as on Nov 4.
Prior to this, the company had raised quarterly dividend by 6.25% in October 2019. The company has grown its dividend at a five year CAGR of 9.7%.
Based on the stock’s Oct 20 closing price of $46.41, the new dividend will yield 0.7% to the company.
Besides regular dividend hike, Brown & Brown, a leading insurance brokerage firm, also buys back shares. Notably, the company bought back shares worth around $537.7 million from the beginning of 2014 till June 30 of this year.
Brown & Brown enjoys strong liquidity position, which not only mitigates balance sheet risks but also paves the way for an accelerated capital deployment. Also, strong cash flows have enabled the company to undertake several strategic initiatives such as buyouts and mergers, which position it well for long-term growth.
The recent dividend hike further reinforces the company’s sound financial prospects. Brown & Brown exited second-quarter 2020 with a sturdy cash balance of $623.2 million, which increased 15% from 2019-end level.
Shares of Brown & Brown, which carries a Zacks Rank #3 (Hold), have gained 27.6% in a year compared with the industry’s growth of 9.9%. The company’s efforts to expand capabilities and extend geographic footprint through several buyouts, and solid capital position should continue to drive shares higher.
Arthur J. Gallagher has a trailing four-quarter earnings surprise of 11.1%, on average.
CNO Financial has a trailing four-quarter earnings surprise of 20.09%, on average.
First American Financial has a trailing four-quarter earnings surprise of 20.84%, on average.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
Brown & Brown (BRO) Rewards Shareholders With Dividend Hike
Brown & Brown, Inc.’s (BRO - Free Report) board of directors recently approved a 8.8% hike in its quarterly dividend in a bid to enhance shareholder value. With this, the payout now stands at 9.25 cents per share compared with the earlier payout of 8.5 cents per share.
The dividend, which marked the 27th straight year of dividend hike, will be paid on Nov 18, 2020 to shareholders of record as on Nov 4.
Prior to this, the company had raised quarterly dividend by 6.25% in October 2019. The company has grown its dividend at a five year CAGR of 9.7%.
Based on the stock’s Oct 20 closing price of $46.41, the new dividend will yield 0.7% to the company.
Besides regular dividend hike, Brown & Brown, a leading insurance brokerage firm, also buys back shares. Notably, the company bought back shares worth around $537.7 million from the beginning of 2014 till June 30 of this year.
Brown & Brown enjoys strong liquidity position, which not only mitigates balance sheet risks but also paves the way for an accelerated capital deployment. Also, strong cash flows have enabled the company to undertake several strategic initiatives such as buyouts and mergers, which position it well for long-term growth.
The recent dividend hike further reinforces the company’s sound financial prospects. Brown & Brown exited second-quarter 2020 with a sturdy cash balance of $623.2 million, which increased 15% from 2019-end level.
Shares of Brown & Brown, which carries a Zacks Rank #3 (Hold), have gained 27.6% in a year compared with the industry’s growth of 9.9%. The company’s efforts to expand capabilities and extend geographic footprint through several buyouts, and solid capital position should continue to drive shares higher.
Stocks to Consider
Some better-ranked insurance stocks include Arthur J. Gallagher & Co. (AJG - Free Report) , CNO Financial Group, Inc. (CNO - Free Report) and First American Financial Corporation (FAF - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Arthur J. Gallagher has a trailing four-quarter earnings surprise of 11.1%, on average.
CNO Financial has a trailing four-quarter earnings surprise of 20.09%, on average.
First American Financial has a trailing four-quarter earnings surprise of 20.84%, on average.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>