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Recent Insider Activity Suggests Potential Gains for Brown & Brown, Inc. (BRO)

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Brown & Brown, Inc.’s recent filing unveils that its EVP/Chief People Officer Turpin Julie unloaded Company’s shares for reported $0.3 million on Jun 07 ’24. In the deal valued at $89.92 per share,3,350 shares were sold. As a result of this transaction, Turpin Julie now holds 23,597 shares worth roughly $2.14 million.

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Then, BROWN HYATT J sold 91,677 shares, generating $7,804,964 in total proceeds. Upon selling the shares at $85.14, the Chairman now owns 37,368,928 shares.

Before that, BROWN HYATT J sold 144,323 shares. Brown & Brown, Inc. shares valued at $12,405,289 were divested by the Chairman at a price of $85.96 per share. As a result of the transaction, BROWN HYATT J now holds 37,460,605 shares, worth roughly $3.39 billion.

BofA Securities upgraded its Brown & Brown, Inc. [BRO] rating to a Neutral from a an Underperform in a research note published on May 22, 2024; the price target was increased to $101 from $91. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in mid March from “a Neutral” to “an Underperform”. Jefferies also remained covering BRO and has decreased its forecast on January 09, 2024 with a “Hold” recommendation from previously “Buy” rating. RBC Capital Mkts revised its rating on January 08, 2024. It rated BRO as “an Outperform” which previously was an “a Sector perform”.

Price Performance Review of BRO

On Friday, Brown & Brown, Inc. [NYSE:BRO] saw its stock jump 0.53% to $90.52. Over the last five days, the stock has gained 0.40%. Brown & Brown, Inc. shares have risen nearly 27.30% since the year began. Nevertheless, the stocks have risen 34.26% over the past one year. While a 52-week high of $93.75 was reached on 06/24/24, a 52-week low of $66.73 was recorded on 01/05/24. SMA at 50 days reached $88.25, while 200 days put it at $79.41. A total of 0.82 million shares were traded, compared to the trading of 0.71 million shares in the previous session.

Levels Of Support And Resistance For BRO Stock

The 24-hour chart illustrates a support level at 89.64, which if violated will result in even more drops to 88.77. On the upside, there is a resistance level at 91.00. A further resistance level may holdings at 91.49. The Relative Strength Index (RSI) on the 14-day chart is 53.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.96, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 59.34%. Stochastics%K at 34.77% indicates the stock is a holding.

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