The Attractiveness of Investing In Brown & Brown Inc. (BRO) is Growing


Brown & Brown Inc.’s filing revealed that its Director Masojada Bronislaw Edmund acquired Company’s shares for reported $0.26 million on Jun 21. In the deal valued at $65.78 per share,4,000 shares were bought. As a result of this transaction, Masojada Bronislaw Edmund now holds 4,000 shares worth roughly $ 0.3 million.

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Then, PROCTOR H PALMER JR sold 448 shares, generating $29,425 in total proceeds. Upon selling the shares at $65.68, the Director now owns 0 shares.

Before that, PROCTOR H PALMER JR sold 1 shares. Brown & Brown Inc. shares valued at $66 were divested by the Director at a price of $65.66 per share. As a result of the transaction, PROCTOR H PALMER JR now holds 41,098 shares, worth roughly $3.05 million.

Keefe Bruyette downgraded its Brown & Brown Inc. [BRO] rating to a Mkt perform from a an Outperform in a research note published on Friday, August 01, 2023; the price target was increased to $76 from $73. PT values the company’s stock at a premium of 2.37 to its Friday closing price.

Price Performance Review of BRO

On Friday, Brown & Brown Inc. [NYSE:BRO] saw its stock jump 0.13% to $74.20. On the same session, the stock had its day’s lowest price of $74.04, but rose to a high of $74.50. Over the last five days, the stock has gained 1.55%. Brown & Brown Inc. shares have risen nearly 30.24% since the year began. Nevertheless, the stocks have risen 17.70% over the past one year. While a 52-week high of $74.57 was reached on 08/31/23, a 52-week low of $52.82 was recorded on 03/15/23. SMA at 50 days reached $70.34, while 200 days put it at $62.31. A total of 0.6 million shares were traded, compared to the trading of 1.09 million shares in the previous session.

Levels Of Support And Resistance For BRO Stock

The 24-hour chart illustrates a support level at 73.99, which if violated will result in even more drops to 73.79. On the upside, there is a resistance level at 74.45. A further resistance level may holdings at 74.71. The Relative Strength Index (RSI) on the 14-day chart is 68.10, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.53, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 8.94%. Stochastics %K at 90.97% indicates the stock is a selling.

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

A steep rise in short interest was recorded in Brown & Brown Inc. stocks on Aug 14, 2023, dropping by -0.28 million shares to a total of 2.05 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.33 million shares. There was a decline of -13.66%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.87% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.93.

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

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 26,876,713 shares, or roughly 9.48% of the outstanding BRO shares. In other words, the investor’s shares have fallen by -65,190 from its previous 13-F filing of 26941903.0. Additionally, Select Equity Group LP decreased -4.88% of its stake after which the total value it holdings stand at $1,106,885,320, while Principal Global Investors LLC added 2.33% of its stake to hold $847.16 million in the firm. Over the last quarter, BlackRock Fund Advisors sold -353,558 shares of Brown & Brown Inc., while SSgA Funds Management, Inc. sold 20,619 shares. At present, Atlanta Capital Management Co. LL is holding 6,040,663 shares valued at $425.56 million. Allspring Global Investments LLC owned 5,689,435 shares of the company at the time of its most recent 13F filing, worth $400.82 million.

According to FactSet, Brown & Brown Inc.’s share price will average $78.10 in the next year, based on opinions of analysts polled by the firm. This is up nearly 5.94 percent from its previous closing price of $74.10. Analysts expect Brown & Brown Inc. stock to reach the higher price of $85.00, while the lowest price estimate is $70.00. However, 13 analysts have rated BRO stock as an Overweight in their predictions for 2023.


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