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Tag: BRO

  • Brown & Brown, Inc. (BRO) Stock Rocketing Higher in Aftermarket, Here’s the Reason.

    Brown & Brown, Inc. (BRO) is a key insurance brokerage company engaged in delivery of solutions for risk management to customers. The company operates in four sectors including wholesale brokerage, retail services and national programs.

    The price of BRO stock during the regular trading on January 24, 2022 was $64.61 with a gain of 2.34%. At last check in the aftermarket, the stock further rocketed by 17.63%.

    BRO: Key Financials

    On January 24, 2022, BRO reported its financial results for the fourth quarter ended December 31, 2021. Some of the key updates are as follows.

    Revenue and Assets

    Total revenue in Q4 2021 was $738.5 million compared to same period of 2020 when it was $642.1 million. Total current assets in fourth quarter 2021 were $3330 million.

    Net Income per Share

    Basic and diluted net income per share in Q4 2021 was $101.7 million or $0.36 compared to Q4 2020 when it was $97.3 million or $0.34.

    BRO: Events and Happenings

    On January 20, 2022, BRO reported about the cash dividend of $0.1025 per share by the BoD’s payable to stockholders by February 16, 2022. BRO reported on January 03, 2022, that one of the company’s subsidiary had purchased all the assets of HARCO Insurance Services.

    On December 14, 2021, BRO reported that the company’s subsidiary had acquired all the assets of Rainmaker Advisory LLC. On December 13, 2021, BRO reported that one of the company’s subsidiary had acquired all the assets of Dealer Admin Services, Inc.

    BRO reported on December 13, 2021, that one of the company’s subsidiary had purchased all the assets of Corporate Insurance Advisors, L.L.C. on November 12, 2021, BRO reported that the company’s subsidiary had acquired all the assets of Heacock Insurance Group, Inc.

    Conclusion

    The company’s stock is playing well in the market despite the challenges faced by the company due to COVID-19 pandemic. The company’s stock is 18% up for the past six months period due to the sound strategies made by the management. The current aftermarket stock surge can be attributed to an increase of 15% or $96 million in quarterly revenue of the company.

  • Early Morning Vibes: Top 3 Stocks To Watch Right Now

    Early Morning Vibes: Top 3 Stocks To Watch Right Now

    Trading on December 30 at American stock markets ended in the green zone. The S&P 500 Index rose 0.13% to 3732 points, the Dow Jones rose 0.24%, the NASDAQ added 0.15%. The trades were held in a narrow range. The UK as expected approved AstraZeneca’s vaccine, leading to relative strength in cyclical sectors, with the energy sector growing 1.6% and the raw materials sector 1.3%. FAANG shares were down more than 1%.

    Company news

    Tesla (TSLA:+4.3%) will allow autonomous driving for three months free of charge. In addition, the Wedbush analyst noted that the target for sales of 500 thousand electric cars in 2020 can be achieved.

    The board of directors of Chinese retail giant JD.com (JD: + 3.9%) has allowed the company to consider spinning off its cloud business into a separate company.

    Today’s Outlook

    Today the global stock markets show mostly sideways dynamics. The news background remains calm. Senate Majority Leader McConnell’s rhetoric reaffirms speculation that the idea of raising direct payments to Americans from $600 to $2,000 will be heavily resisted in the Senate vote. Many Republicans question the effectiveness of this initiative. The increase in payments will lead to an increase in the national debt by more than $ 460 billion, but only a small part of this amount will be received by the neediest segments of the population. Nevertheless, ongoing fiscal support plays a key role in the economic recovery.
     

    The head of Operation Warp Speed, which is in charge of the vaccine campaign, said the vaccine, created by AstraZeneca and Oxford University, will not receive US approval until April. The expert points to the mixed results of clinical trials and a strong difference in the effectiveness of the vaccine depending on the modes of use. The company is currently conducting additional trials in the United States. However, optimism about the various vaccines and their ability to withstand the coronavirus remains heightened. Trading activity will decline on New Year’s Eve, although the US session will not be as short as it was on Christmas Eve.

    Economic news:

    Today there are weekly data on the number of applications for unemployment benefits. The forecast assumes an increase in the indicator by 30 thousand, up to 833 thousand in comparison with the result of the previous five days. The US economy is still under pressure from quarantine measures, in connection with which the business continues to actively optimize the number of employees.

    Today Top Movers

    ‎Aikido Pharma Inc (AIKI) stock ascended 40.69% at $1.21 in the pre-‎market trading today.‎‎ ‎

    Castor Maritime Inc (CTRM) share price soared 50.34% to $0.35 during early morning ‎trading session on Thursday following the receipt of a notification letter from the Nasdaq granting the Company an additional 180-day extension.‎‎ ‎

    Red Lion Hotels Corp (RLH), a Lodging company, jumped about 30.00% ‎at $3.51 in pre-‎market trading Thursday after declaring a definitive merger agreement with Sonesta International Hotels Corporation.

    Top Upgrades & Downgrades

    Credit Suisse turned bullish on Brown & Brown, Inc. (NYSE: BRO), reiterating the stock at “Neutral” but lifting the target from $47 to $50, representing potential upside of 8.10% from Wednesday’s close.
     

    JP Morgan turned bullish on Apartment Income REIT Corp (NYSE: AIRC), initiating the stock at “Neutral” and assigning the target to $43, representing potential upside of 12.00% from Wednesday’s close.
     

    AlphaValue turned bullish on Weibo Corp (NASDAQ: WB), downgrading the ‎stock to “Hold” from Buy and assigning a $44.65 price target.

    Latest Insider Activity

    Tesla Inc. (TSLA) SVP Powertrain and Energy Eng. Baglino Andrew D announced the sale of shares taking place on Dec 28 at $674.68 for some 1,500 shares. The total came to more than $1.01 million.
     

    Plug Power Inc. (PLUG) Director Kenausis Gregory sold on Dec 28 a total 89,169 shares at $34.65 on average. The insider’s sale generated proceeds of almost $1.91 million.
     

    PDL BioPharma Inc. (PDLI) 10% Owner Silver Point Capital L.P. declared the purchase of shares taking place on Dec 29 at $2.69 for some 268,600 shares. The transaction amount was around $0.72 million.
     

    Conifer Holdings Inc. (CNFR) Director WILLIAMS R JAMISON JR bought on Dec 29 a total 405,458 shares at $2.62 on average. The purchase cost the insider an estimated $26,200.