Monthly Stock Report: Brown & Brown, Inc. (BRO)
Publication Date: September 22, 2024
Company Overview
Brown & Brown, Inc. (BRO), based in Daytona Beach, Florida, has built a solid reputation since its founding in 1939. Specializing in a diverse range of insurance products and services, the company operates within the Financial Services sector, specifically in the Insurance Brokers industry. With offerings that include property and casualty insurance, employee benefits, risk management, and consultancy services, Brown & Brown caters to a varied clientele comprising commercial and public entities. The company has expanded its footprint internationally, with a significant presence in the United States, Canada, Ireland, and the United Kingdom.
Market Analysis and Performance
As of the latest analysis, the insurance brokers industry within the financial services sector maintains a “hold” recommendation, amid a backdrop of stability and growth potential. The current stock price of Brown & Brown, Inc. is $101.01, reflecting a robust operational base supported by approximately $4.45 billion in total revenue. Analyst projections suggest a target high price of $112.00, with a mean target price of $105.42, indicating an optimistic outlook for the near future. The company currently has 285,260,992 outstanding shares, with a modest short interest of 1.34%, suggesting confidence among investors regarding the stock’s performance.
Investment Sentiment and Price Projections
The average recommendation from 13 analysts reflects a mean score of 2.6, indicating a stable outlook with no strong impetus to buy or sell at this time. The stock’s current price is situated between its fifty-two week high of $106.02 and a low of $66.73, showcasing relative stability over the past year. Additionally, trading slightly above its fifty-day moving average of $100.48 could signal bullish momentum. With a target low price set at $92.00 and the median target price at $108.00, investors are advised to maintain their positions while keeping an eye on overall market conditions.
In conclusion, while the stock remains a viable option for current holders, prospective investors should monitor developments within the insurance brokerage landscape for any shifts that could impact future performance.
| Metric | Value |
|---|---|
| Market Cap | $28.8b |
| Total Debt | $4.3b |
| Total Cash | $1.1b |
| Shares Outstanding | 285.3m |
| Float Shares | 237.3m |
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