Saturday, June 25, 2022

Investing in Brown & Brown Inc. [BRO]: What You Must Know

Brown & Brown Inc.’s recent filing unveils that its Director GELLERSTEDT LAWRENCE L III acquired Company’s shares for reported $98910.0 on May 19. In the deal valued at $54.95 per share,1,800 shares were bought. As a result of this transaction, GELLERSTEDT LAWRENCE L III now holds 12,884 shares worth roughly $ 0.71 million.


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Then, BROWN HUGH M bought 487 shares, generating $29,668 in total proceeds. Upon buying the shares at $60.92, the Director now owns 1,287 shares.

Before that, BROWN HUGH M bought 824 shares. Brown & Brown Inc. shares valued at $49,160 were divested by the Director at a price of $59.66 per share. As a result of the transaction, BROWN HUGH M now holds 49,452 shares, worth roughly $2.71 million.

Meanwhile, UBS initiated its Brown & Brown Inc. [BRO] rating to a Neutral in a research note published on Tuesday, April 18, 2022; the price target was $76. PT values the company’s stock at a premium of 27.8 to its Tuesday closing price. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in mid November with a ‘”a Buy”‘ rating. Wolfe Research began covering BRO with a “Peer perform” recommendation on August 17, 2021. Keefe Bruyette revised its rating on January 19, 2021. It rated BRO as “an Outperform” which previously was an “a Mkt perform”.

Price Performance Review of BRO

On Tuesday, Brown & Brown Inc. [NYSE:BRO] saw its stock jump 2.56% to $54.87. On the same session, the stock had its day’s lowest price of $54.04, but rose to a high of $55.10. Over the last five days, the stock has gained 0.70%. Brown & Brown Inc. shares have fallen nearly -21.93% since the year began. Nevertheless, the stocks have risen 4.59% over the past one year. While a 52-week high of $74.00 was reached on 03/31/22, a 52-week low of $51.58 was recorded on 06/16/22. SMA at 50 days reached $60.74, while 200 days put it at $63.87. A total of 1.36 million shares were traded, compared to the trading of 1.8 million shares in the previous session.

Levels Of Support And Resistance For BRO Stock

The 24-hour chart illustrates a support level at 54.24, which if violated will result in even more drops to 53.61. On the upside, there is a resistance level at 55.30. A further resistance level may holdings at 55.73. The Relative Strength Index (RSI) on the 14-day chart is 40.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.64, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.76%. Stochastics %K at 15.03% indicates the stock is a buying.

How much short interest is there in Brown & Brown Inc.?

A steep rise in short interest was recorded in Brown & Brown Inc. stocks on Apr 28, 2022, dropping by -0.19 million shares to a total of 5.97 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 6.16 million shares. There was a decline of -3.18%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.53% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.76.

Brown & Brown Inc. [BRO] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 26,201,539 shares, or roughly 9.28% of the outstanding BRO shares. In other words, the investor’s shares have fallen by -1,129,220 from its previous 13-F filing of 27330759.0. Additionally, Select Equity Group LP increased 1.44% of its stake after which the total value it holdings stand at $1,100,686,137, while BlackRock Fund Advisors added 0.42% of its stake to hold $867.22 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -62,584 shares of Brown & Brown Inc., while Principal Global Investors LLC sold 723,275 shares. At present, First Eagle Investment Management is holding 6,364,187 shares valued at $377.84 million. Atlanta Capital Management Co. LL owned 6,068,306 shares of the company at the time of its most recent 13F filing, worth $360.28 million.

According to FactSet, Brown & Brown Inc.’s share price will average $72.89 in the next year, based on opinions of analysts polled by the firm. This is up nearly 40.19 percent from its previous closing price of $53.50. Analysts expect Brown & Brown Inc. stock to reach the higher price of $82.00, while the lowest price estimate is $59.00. However, 12 analysts have rated BRO stock as an Overweight in their predictions for 2022.

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