Recent market activities are shining a spotlight on the insurance broker, Brown & Brown, Inc. (NYSE:BRO). Several institutions have altered their positions in the company. The Retirement Systems of Alabama reduced its holdings, while the First Trust Direct Indexing L.P and New York Life Investment Management increased theirs. Q4 earnings and revenues exceeded expectations with a consistent Year-on-Year rise. Market speculations suggest strong financial prospects for the firm and there's potential for the CEO to see a pay raise.
Bullish insiders loaded up on BRO stock earlier this year, and the firm's recent Canadian expansion with HBG buyout and AGIS buyout for enhanced employee benefits indicates strong directional efforts. Analysts gave an average HOLD recommendation for the stock. However, the encouraging financial metrics and competitive strengths of Brown & Brown combined with the recent rating upgrade to 'strong buy' suggest a positive outlook. Significantly, a high percentage of institutional ownership indicated heavy investing in the firm, leading to an impressive 34% gain in the year. However, some investors still have concerns about Brown & Brown's P/E ratio, which they consider to be high.
Forecasts for Brown & Brown's Q1 2024 earnings call are optimistic. Company shares are being actively traded by entities like Truist Financial Corp, Forte Capital LLC ADV, and Victory Capital Management Inc. However, some insiders have recently offloaded sizable amounts of BRO stock which could potentially indicate some underlying weakness. Finally, the company has announced the asset acquisition of The Pacific Underwriters Corporation.
Brown Brown BRO News Analytics from Wed, 21 Aug 2019 07:00:00 GMT to Wed, 08 May 2024 10:51:29 GMT - Rating 4 - Innovation 2 - Information 8 - Rumor -1
