Brown & Brown Shares Rise Sharply on Q4 Results (BRO)

Shares of Brown & Brown Inc. (NYSE: BRO) have risen sharply in trading today after the company reported strong fourth-quarter financial results.

Key Points

• Brown & Brown reports record fourth-quarter earnings
• Net income for the quarter rises 16.8%
• Total revenue rise 24.1%

J. Powell Brown, President and CEO of Brown & Brown, said that he is very proud of what the company achieved in the fourth quarter and for the year. Brown said that two of the company’s most important goals for 2012—to grow its revenues organically and to improve each and every quarter—were accomplished.

Brown & Brown reported fourth-quarter net income of $42,637,000, or $0.29 per share, compared to $36,494,000, or $0.25 per share reported for the same period in the previous year. The company’s revenue for the fourth quarter was $302,830,000, compared to $244,097,000 reported for the same period in the previous year.

Brown & Brown’s total revenue for 2012 was $1,200,032,000, up 18.4% from 2011. The company’s net income for 2012 stood at $184,045,000, or $1.26 per share, up 12.2% from 2011.

Brown & Brown shares have risen sharply as investors cheered the company’s fourth-quarter results. The stock rose to a 52-week high of $29.66 earlier today. At last check, it was trading 5.67% higher at $29.05 on above average volume of 1.87 million.

About Brown & Brown Inc.

Based in Daytona Beach, Florida, Brown & Brown Inc. is a provider of a broad range of insurance reinsurance products and services. The company offers its products and services through its subsidiaries.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.