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brown and brown announces dividend and earnings expectations for fiscal year
Brown & Brown, Inc. is projected to report an EPS of 4.18 for the current fiscal year. The company recently declared a quarterly dividend of $0.15 per share, resulting in an annualized dividend of $0.60 and a yield of 0.48%. Analysts currently rate the stock as a "Hold," with a consensus price target of $112.67.
Morgan Stanley downgrades Brown and Brown stock amid strong earnings report
Morgan Stanley has downgraded Brown & Brown (NYSE: BRO) from Overweight to Equal-weight, setting a price target of $128. The firm cited the stock's significant year-to-date appreciation and high valuation relative to peers, despite strong fourth-quarter earnings that exceeded expectations.Brown & Brown reported an EPS of $0.86 and revenue of $1.2 billion for Q4 2024, marking a 15.4% year-over-year increase. The company completed 10 acquisitions, enhancing its revenue base, but faces a cautious outlook for 2025 due to potential impacts from California wildfires.
princeton endowment returns lag behind peers due to venture capital exposure
Princeton University's endowment returned just 3.9% for fiscal year 2024, significantly trailing its Ivy League peers, primarily due to an overreliance on venture capital and insufficient exposure to booming tech stocks. This performance follows a 1.7% loss in fiscal 2023 and is below the expected 6% return. Additionally, declining donations, which fell to $66.7 million, may impact the university's financial aid programs, which rely heavily on endowment support.
Harvard's $53.2 billion endowment achieved a 9.6% return in fiscal year 2024, driven by strategic manager selection and significant shifts in asset allocation. The endowment reduced real estate and natural resources exposure while increasing private equity and hedge fund allocations, with technology stocks contributing to the strong performance. Despite private equity underperforming relative to public markets, the overall results positioned Harvard favorably among Ivy League peers.
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