A Guide To The Risks Of Investing In Brown & Brown Inc. (BRO)

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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 $ 0.76 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 $2.9 million.

BMO Capital Markets initiated its Brown & Brown Inc. [BRO] rating to an Outperform in a research note published on Tuesday, January 20, 2023; the price target was $67. PT values the company’s stock at a premium of 12.37 to its Tuesday closing price. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in mid December with a ‘”a Neutral”‘ rating. Goldman began covering BRO with “Neutral” recommendation on July 12, 2022. UBS started covering the stock on April 18, 2022. It rated BRO as “a Neutral”.

Price Performance Review of BRO

On Tuesday, Brown & Brown Inc. [NYSE:BRO] saw its stock fall -5.25% to $58.71. On the same session, the stock had its day’s lowest price of $57.51, but rose to a high of $61.77. Over the last five days, the stock has lost -4.04%. Brown & Brown Inc. shares have risen nearly 3.05% since the year began. Nevertheless, the stocks have fallen -7.00% over the past one year. While a 52-week high of $74.00 was reached on 01/12/23, a 52-week low of $52.91 was recorded on 01/03/23. SMA at 50 days reached $58.18, while 200 days put it at $60.62. A total of 2.64 million shares were traded, compared to the trading of 1.28 million shares in the previous session.

Levels Of Support And Resistance For BRO Stock

The 24-hour chart illustrates a support level at 56.89, which if violated will result in even more drops to 55.07. On the upside, there is a resistance level at 61.15. A further resistance level may holdings at 63.59. The Relative Strength Index (RSI) on the 14-day chart is 47.60, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.70, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 59.06%. Stochastics %K at 76.07% indicates the stock is a holding.

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

A steep rise in short interest was recorded in Brown & Brown Inc. stocks on Oct 13, 2022, dropping by -0.43 million shares to a total of 2.59 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 3.02 million shares. There was a decline of -16.6%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.10% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.56.

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

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 26,318,921 shares, or roughly 9.29% of the outstanding BRO shares. In other words, the investor’s shares have fallen by -17,907 from its previous 13-F filing of 26336828.0. Additionally, Select Equity Group LP decreased -1.79% of its stake after which the total value it holdings stand at $1,059,134,967, while BlackRock Fund Advisors added 1.03% of its stake to hold $676.94 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 52,848 shares of Brown & Brown Inc., while Principal Global Investors LLC bought 551,488 shares. At present, Atlanta Capital Management Co. LL is holding 6,056,264 shares valued at $345.03 million. Allspring Global Investments LLC owned 5,865,072 shares of the company at the time of its most recent 13F filing, worth $334.13 million.

According to FactSet, Brown & Brown Inc.’s share price will average $65.40 in the next year, based on opinions of analysts polled by the firm. This is up nearly 5.71 percent from its previous closing price of $61.96. Analysts expect Brown & Brown Inc. stock to reach the higher price of $70.00, while the lowest price estimate is $59.00. However, 13 analysts have rated BRO stock as an Overweight in their predictions for 2023. The most recent change occurred on November 19, 2021 when Jefferies began covering the stock and recommended ‘”a Buy”‘ rating along with a $76 price target.

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