Brown & Brown Inc. [BRO] stock for 98,910 USD was acquired by GELLERSTEDT LAWRENCE L III

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Brown & Brown Inc. shares valued at $98,910 were purchased by GELLERSTEDT LAWRENCE L III on May 19. At $54.95 per share, GELLERSTEDT LAWRENCE L III acquired 1,800 shares. The insider’s holdings grew to 12,884 shares worth approximately $0.83 million following the completion of this transaction.

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Also, BROWN HUGH M purchased 487 shares, netting a total of over 29,668 in proceeds. Following the buying of shares at $60.92 each, the insider now holds 1,287 shares.

Before that, BROWN HUGH M had added 824 shares to its account. In a trade valued at $49,160, the Director bought Brown & Brown Inc. shares for $59.66 each. Upon closing the transaction, the insider’s holdings increased to 824 shares, worth approximately $3.18 million.

As published in their initiating research note from Goldman on July 12, 2022, Brown & Brown Inc. [BRO] has been a Neutral and the price target has been revised to $67. This represents a 4.01% premium over Thursday’s closing price. Analysts at UBS started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid April. As of November 19, 2021, Jefferies has initiated its “Buy” rating for BRO. Earlier on August 17, 2021, Wolfe Research initiated its rating. Their recommendation was “a Peer perform” for BRO stock.

Analyzing BRO’s Price Performance

On Thursday, Brown & Brown Inc. [NYSE: BRO] rose 0.03% to $64.31. The stock’s lowest price that day was $63.99, but it reached a high of $64.57 in the same session. During the last five days, there has been a drop of approximately -0.11%. Over the course of the year, Brown & Brown Inc. shares have dropped approximately -8.49%. Shares of the company reached a 52-week high of $74.00 on 03/31/22 and a 52-week low of $52.91 on 06/16/22. A 50-day SMA is recorded $59.14, while a 200-day SMA reached $64.19. Nevertheless, trading volume fell to 1.14 million shares from 0.92 million shares the previous day.

Support And Resistance Levels for Brown & Brown Inc. (BRO)

According to the 24-hour chart, there is a support level at 64.01, which, if violated, would cause prices to drop to 63.71. In the upper region, resistance lies at 64.59. The next price resistance is at 64.87. RSI (Relative Strength Index) is 63.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.26, which suggests the price will increase in the coming days. Percent R is at 19.61%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Brown & Brown Inc. subject to short interest?

Stocks of Brown & Brown Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.99 million shares to 4.13 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.12 million shares. A decline of -23.97% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.12 of the overall float, the days-to-cover ratio (short ratio) decline to 3.12.

Which companies own the most shares of Brown & Brown Inc. (BRO)?

According to The Vanguard Group, Inc. filings, the company currently owns 26,201,539 shares, which is about 9.28% of the total BRO shares outstanding. The investor’s shares have plunged by -1,129,220 from its previous 13-F filing of 27330759.0 shares. With the completion of the buy transaction, Select Equity Group LP’s stake is now worth $1,081,590,521. BlackRock Fund Advisors acquire a 0.42% interest valued at $852.18 million while SSgA Funds Management, Inc. sold a -62,584 stake. A total of 723,275 shares of Brown & Brown Inc. were sold by Principal Global Investors LLC during the quarter, and -912,780 were sold by First Eagle Investment Management. In its current portfolio, Allspring Global Investments LLC holds 6,156,389 shares valued at $359.16 million.

In terms of Brown & Brown Inc. share price expectations, FactSet research, analysts set an average price target of $69.78 in the next 12 months, up nearly 8.88% from the previous closing price of $64.29. Analysts anticipate Brown & Brown Inc. stock to reach $75.00 by 2022, with the lowest price target being $64.00. In spite of this, 12 analysts ranked Brown & Brown Inc. stock as an Overweight at the end of 2022. On January 19, 2021, Keefe Bruyette assigned a price target of “an Outperform” to the stock and upgraded coverage with a $54.


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