The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Brown & Brown, Inc. shares valued at $14,071,226 were sold by BROWN HYATT J on Aug 29 ’24. At $104.51 per share, BROWN HYATT J sold 134,640 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, HYATT BROWN purchased 134,640 shares, netting a total of over 14,070,766 in proceeds.
Before that, Watts R. Andrew had sold 2,500 shares from its account. In a trade valued at $250,800, the EVP, CFO and Treasurer traded Brown & Brown, Inc. shares for $100.32 each. Upon closing the transaction, the insider’s holdings decreased to 2,500 shares, worth approximately $9.36 million.
As published in their initiating research note from Argus on September 24, 2024, Brown & Brown, Inc. [BRO] has been a Buy and the price target has been revised to $120. Analysts at Barclays started covering the stock with ‘”an Equal weight”‘ outlook in a report released in early September. As of August 12, 2024, Wells Fargo has increased its “an Equal weight” rating to a “an Overweight” for BRO. Earlier on May 22, 2024, BofA Securities upgraded its rating. Their new recommendation was “a Neutral” for BRO stock which previously was a “an Underperform”.
Analyzing BRO Stock Performance
During the last five days, there has been a surge of approximately 0.78%. Over the course of the year, Brown & Brown, Inc. shares have jumped approximately 48.87%. Shares of the company reached a 52-week high of $106.37 on 10/09/24 and a 52-week low of $69.24 on 01/05/24. A 50-day SMA is recorded $102.64, while a 200-day SMA reached $89.12. Nevertheless, trading volume fell to 1.17 million shares from 1.54 million shares the previous day.
Support And Resistance Levels for Brown & Brown, Inc. (BRO)
According to the 24-hour chart, there is a support level at 105.00, which, if violated, would cause prices to drop to 104.13. In the upper region, resistance lies at 106.55. The next price resistance is at 107.23. RSI (Relative Strength Index) is 58.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.64, which suggests the price will decrease in the coming days. Percent R is at 7.63%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
