Brown & Brown, Inc. (NYSE: BRO)’s stock price has increased by 5.25 compared to its previous closing price of 93.16. However, the company has seen a 5.08% increase in its stock price over the last five trading sessions. seekingalpha.com reported 2024-07-23 that Brown & Brown, Inc. (NYSE:BRO ) Q2 2024 Earnings Conference Call July 23, 2024 8:00 AM ET Company Participants Powell Brown – President and CEO Andy Watts – EVP, CFO and Treasurer Conference Call Participants Mark Hughes – Truist Securities Michael Zaremski – BMO Elyse Greenspan – Wells Fargo Yaron Kinar – Jefferies Rob Cox – Goldman Sachs Sidney Schultz – Raymond James Grace Carter – Bank of America Meyer Shields – Keefe, Bruyette & Woods Mike Ward – Citi Scott Heleniak – RBC Capital Markets Operator Good morning, and welcome to the Brown & Brown Inc. Second Quarter Earnings Call. Today’s call is being recorded.
Is It Worth Investing in Brown & Brown, Inc. (NYSE: BRO) Right Now?
Brown & Brown, Inc. (NYSE: BRO) has a price-to-earnings ratio that is above its average at 28.22x. The stock has a 36-month beta value of 0.82. Opinions on the stock are mixed, with 1 analysts rating it as a “buy,” 1 as “overweight,” 8 as “hold,” and 2 as “sell.”
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The public float for BRO is 235.39M, and at present, short sellers hold a 1.85% of that float. On July 24, 2024, the average trading volume of BRO was 1.15M shares.
BRO’s Market Performance
The stock of Brown & Brown, Inc. (BRO) has seen a 5.08% increase in the past week, with a 5.41% rise in the past month, and a 18.85% gain in the past quarter. The volatility ratio for the week is 1.81%, and the volatility levels for the past 30 days are at 1.56% for BRO. The simple moving average for the past 20 days is 7.15% for BRO’s stock, with a 21.71% simple moving average for the past 200 days.
Analysts’ Opinion of BRO
Many brokerage firms have already submitted their reports for BRO stocks, with BofA Securities repeating the rating for BRO by listing it as a “Neutral.” The predicted price for BRO in the upcoming period, according to BofA Securities is $101 based on the research report published on May 22, 2024 of the current year 2024.
BofA Securities, on the other hand, stated in their research note that they expect to see BRO reach a price target of $86, previously predicting the price at $80. The rating they have provided for BRO stocks is “Underperform” according to the report published on March 13th, 2024.
Jefferies gave a rating of “Hold” to BRO, setting the target price at $78 in the report published on January 09th of the current year.
BRO Trading at 8.55% from the 50-Day Moving Average
After a stumble in the market that brought BRO to its low price for the period of the last 52 weeks, the company was able to rebound, for now settling with 4.00% of gains for the given period.
Volatility was left at 1.56%, however, over the last 30 days, the volatility rate increased by 1.81%, as shares surge +5.05% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.53% upper at present.
During the last 5 trading sessions, BRO rose by +5.08%, which changed the moving average for the period of 200-days by +39.32% in comparison to the 20-day moving average, which settled at $91.74. In addition, Brown & Brown, Inc. saw 37.88% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BRO starting from Turpin Julie, who sale 3,350 shares at the price of $89.92 back on Jun 07 ’24. After this action, Turpin Julie now owns 23,597 shares of Brown & Brown, Inc., valued at $301,232 using the latest closing price.
BROWN HYATT J, the Chairman of Brown & Brown, Inc., sale 91,677 shares at $85.14 during a trade that took place back on Mar 13 ’24, which means that BROWN HYATT J is holding 37,368,928 shares at $7,804,964 based on the most recent closing price.
Stock Fundamentals for BRO
Current profitability levels for the company are sitting at:
- 0.28 for the present operating margin
- 0.85 for the gross margin
The net margin for Brown & Brown, Inc. stands at 0.22. The total capital return value is set at 0.12. Equity return is now at value 17.68, with 6.54 for asset returns.
Based on Brown & Brown, Inc. (BRO), the company’s capital structure generated 0.41 points at debt to capital in total, while cash flow to debt ratio is standing at 0.24. The debt to equity ratio resting at 0.69. The interest coverage ratio of the stock is 8.81.
Currently, EBITDA for the company is 1.42 billion with net debt to EBITDA at 0.87. When we switch over and look at the enterprise to sales, we see a ratio of 6.48. The receivables turnover for the company is 1.97for trailing twelve months and the total asset turnover is 0.28.
Conclusion
To sum up, Brown & Brown, Inc. (BRO) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
