Brown & Brown Inc Stock Price, News & Analysis

Brown & Brown, Inc. (NYSE: BRO) will announce its 2020 fourth-quarter earnings on January 25, 2021, after market close. An investor conference call will take place on January 26, 2021, at 8:00 a.m. EST, hosted by CEO J. Powell Brown and CFO R. Andrew Watts. The call can be accessed live on the company’s website. For those unable to attend, a replay will be available via phone and the website for a limited time. Brown & Brown has over 80 years of experience in insurance brokerage, focusing on risk management solutions.

Brown & Brown, Inc. (NYSE: BRO) has received a certificate of occupancy for its new 11-story office building in Daytona Beach, completed on December 18, 2020. This facility will house four businesses and serve as the corporate headquarters, supporting up to 900 employees. The project is key to the company’s growth, which includes plans to hire 600 new jobs in Volusia County. The building features training facilities to support its teammate development program. CEO J. Powell Brown emphasized its importance for collaboration and future growth.

Brown & Brown has announced the acquisition of O'Leary Insurances, set to close in January 2021. This acquisition positions Brown & Brown as a leading player in the Irish insurance market, leveraging OLI's extensive customer service expertise and network of over 200 employees across eight locations in Ireland. The partnership aims to enhance customer solutions by combining strengths, with OLI continuing to operate under its current leadership. This strategic move reflects Brown & Brown's commitment to expanding its European presence and underscores the financial potential of the Irish insurance market.

Brown & Brown, Inc. (NYSE:BRO) announced the acquisition of South & Western General Agency and its affiliate, S&W Premium Finance Company. Established in 1974, South & Western operates as a managing general agency in several southern states, specializing in various insurance products. This acquisition positions Brown & Brown to enhance its service offerings in the Southwest and Mid-South regions. The South & Western team will continue their operations under the leadership of JJ Horan, maintaining their commitment to high-quality customer service.

Brown & Brown, Inc. (NYSE:BRO) reported a strong third quarter for 2020, with revenues of $674 million, up 8.9% from the previous year. Net income rose to $134 million, marking a 15.9% increase, while diluted net income per share increased by 14.6% to $0.47. For the nine-month period ending September 30, 2020, revenues reached $1.97 billion, a growth of 8.7%. The company's organic revenue growth stood at 4.3% for the quarter and 3.5% for the year-to-date. EBITDAC also reflected positive growth, increasing by 13.2% for the quarter. These results showcase the company's resilience during challenging market conditions.

Brown & Brown, Inc. (NYSE:BRO) has declared a quarterly cash dividend of $0.0925 per share, marking an 8.8% increase from the previous $0.085 per share. This dividend is payable on November 18, 2020, to shareholders of record as of November 4, 2020. This announcement represents the twenty-seventh consecutive annual dividend increase for the company, highlighting its commitment to returning value to shareholders.

Picwell has partnered with Brown & Brown (NYSE: BRO), enhancing benefits decision support for over 30 million employees. This partnership allows Brown & Brown customers access to Picwell's advanced AI-driven benefits solution, simplifying decision-making in healthcare plans. Picwell aims to educate employees on benefits options effectively, potentially saving them over $1,000 annually and benefiting employers by saving up to $94 per user. The collaboration aligns with Picwell's mission to empower employees, making healthcare benefits easier to understand.