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The Potential Rise in the Price of Brown & Brown, Inc. (BRO) following insiders activity

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 $3.05 billion.

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 $5.26 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 Tuesday, Brown & Brown, Inc. [NYSE:BRO] saw its stock unchanged to $81.54. Over the last five days, the stock has lost -1.68%. Brown & Brown, Inc. shares have risen nearly 14.67% since the year began. Nevertheless, the stocks have risen 26.63% over the past one year. While a 52-week high of $87.99 was reached on 03/28/24, a 52-week low of $61.71 was recorded on 01/05/24. SMA at 50 days reached $84.13, while 200 days put it at $75.55. A total of 1.89 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 81.03, which if violated will result in even more drops to 80.52. On the upside, there is a resistance level at 82.09. A further resistance level may holdings at 82.64. The Relative Strength Index (RSI) on the 14-day chart is 40.50, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 61.83%. Stochastics %K at 29.82% indicates the stock is a holding.

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