In a filing, Brown & Brown, Inc. revealed its Chairman BROWN HYATT J unloaded Company’s shares for reported $7.8 million on Mar 13 ’24. In the deal valued at $85.14 per share,91,677 shares were sold. As a result of this transaction, BROWN HYATT J now holds 37,368,928 shares worth roughly $3.21 billion.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Then, BROWN HYATT J sold 144,323 shares, generating $12,405,289 in total proceeds. Upon selling the shares at $85.96, the Chairman now owns 37,460,605 shares.
Before that, Boyd Stephen M sold 2,500 shares. Brown & Brown, Inc. shares valued at $176,596 were divested by the EVP/ Pres Wholesale Brokerage at a price of $70.64 per share. As a result of the transaction, Boyd Stephen M now holds 64,471 shares, worth roughly $5.54 million.
BofA Securities downgraded its Brown & Brown, Inc. [BRO] rating to an Underperform from a a Neutral in a research note published on March 13, 2024; the price target was increased to $86 from $80. A number of analysts have revised their coverage, including Jefferies’s analysts, who decreased its forecast for the stock in early January from “a Buy” to “a Hold”. RBC Capital Mkts also remained covering BRO and has increased its forecast on January 08, 2024 with a “an Outperform” recommendation from previously “Sector perform” rating. Goldman revised its rating on January 08, 2024. It rated BRO as “a Buy” which previously was an “a Neutral”.
Price Performance Review of BRO
On Friday, Brown & Brown, Inc. [NYSE:BRO] saw its stock fall -0.05% to $86.00. Over the last five days, the stock has gained 1.25%. Brown & Brown, Inc. shares have risen nearly 20.94% since the year began. Nevertheless, the stocks have risen 56.71% over the past one year. While a 52-week high of $87.00 was reached on 03/20/24, a 52-week low of $54.24 was recorded on 01/05/24. SMA at 50 days reached $81.19, while 200 days put it at $73.36. A total of 0.91 million shares were traded, compared to the trading of 1.17 million shares in the previous session.
Levels Of Support And Resistance For BRO Stock
The 24-hour chart illustrates a support level at 85.73, which if violated will result in even more drops to 85.47. On the upside, there is a resistance level at 86.46. A further resistance level may holdings at 86.93. The Relative Strength Index (RSI) on the 14-day chart is 65.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.84, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 26.25%. Stochastics %K at 80.25% 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 Feb 29, 2024, growing by 40000.0 shares to a total of 2.18 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 2.14 million shares. There was a rise of 1.83%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 0.91% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.71.
