Brown & Brown, Inc. (BRO) is a key insurance brokerage company engaged in delivery of solutions for risk management to customers. The company operates in four sectors including wholesale brokerage, retail services and national programs.
The price of BRO stock during the regular trading on January 24, 2022 was $64.61 with a gain of 2.34%. At last check in the aftermarket, the stock further rocketed by 17.63%.
BRO: Key Financials
On January 24, 2022, BRO reported its financial results for the fourth quarter ended December 31, 2021. Some of the key updates are as follows.
Revenue and Assets
Total revenue in Q4 2021 was $738.5 million compared to same period of 2020 when it was $642.1 million. Total current assets in fourth quarter 2021 were $3330 million.
Net Income per Share
Basic and diluted net income per share in Q4 2021 was $101.7 million or $0.36 compared to Q4 2020 when it was $97.3 million or $0.34.
BRO: Events and Happenings
On January 20, 2022, BRO reported about the cash dividend of $0.1025 per share by the BoD’s payable to stockholders by February 16, 2022. BRO reported on January 03, 2022, that one of the company’s subsidiary had purchased all the assets of HARCO Insurance Services.
On December 14, 2021, BRO reported that the company’s subsidiary had acquired all the assets of Rainmaker Advisory LLC. On December 13, 2021, BRO reported that one of the company’s subsidiary had acquired all the assets of Dealer Admin Services, Inc.
BRO reported on December 13, 2021, that one of the company’s subsidiary had purchased all the assets of Corporate Insurance Advisors, L.L.C. on November 12, 2021, BRO reported that the company’s subsidiary had acquired all the assets of Heacock Insurance Group, Inc.
Conclusion
The company’s stock is playing well in the market despite the challenges faced by the company due to COVID-19 pandemic. The company’s stock is 18% up for the past six months period due to the sound strategies made by the management. The current aftermarket stock surge can be attributed to an increase of 15% or $96 million in quarterly revenue of the company.
