Brown & Brown is an insurance broker with strong 18% margins and a breakout chart setup, but earnings growth is weak and the price of $69.76 is already above the $66.95 analyst target, leaving little upside.
Thesis pillars
- Strong Broker Margins↓Deteriorating
- Weak Earnings Growth↓Deteriorating
- Price Above Analyst Target↓Deteriorating
- +2 more pillars — see the Why tab for full reasoning
Pillars as of Nov 1, 2026, based on the 10-K filed Feb 12, 2026
Brown & Brown, Inc. (BRO) Stock Analysis
Breakout setup
Financial Services · Insurance Brokers
Hold if already holding. Not a fresh buy at $73.89, but acceptable to hold if already in. Reasons: Analyst target reached - limited upside remaining; Weak growth.
Brown & Brown markets and sells insurance products as an agent and broker, with two segments — Retail (58.7% of 2025 commissions/fees) and Specialty Distribution (41.3%) — operating 468 domestic locations in 47 states plus 246 international locations. Total commissions and fees... Read more
Hold if already holding. Not a fresh buy at $73.89, but acceptable to hold if already in. Reasons: Analyst target reached - limited upside remaining; Weak growth. Chart setup: Golden cross, above all MAs, RSI 62, MACD bullish. Maintain position. Not compelling to add more. Score 5.5/10, moderate confidence.
Passes 6/8 gates (positive momentum, clean insider activity, news events none recent, earnings proximity 81d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: moderate.
About Brown & Brown, Inc.
About Brown & Brown, Inc.
Brown & Brown generated $5,763 million in total commissions and fees in 2025, split between the Retail segment at $3,386 million (58.7%) and the Specialty Distribution segment at $2,379 million (41.3%). International operations, primarily in the United Kingdom plus 14 other countries, generated $843 million in 2025. The company operates from 468 domestic locations across 47 states, with licensing required from regulatory authorities in each state and international jurisdiction where it conducts business.
Brown & Brown earns commissions and fees as an insurance agent and broker — not as an underwriter — primarily across property, casualty, and employee benefits lines. The Retail segment serves commercial, public, quasi-public, and individual customers; the Specialty Distribution segment operates through Arrowhead Programs (managing general underwriter programs across professional, personal, commercial, and public entity lines), Bridge Specialty Group (wholesale brokerage), and Arrowhead Specialty (affinity, captives, warranty, and life and health, including One80 Intermediaries businesses). In the third quarter of 2025, the company completed the acquisition of RSC, the holding company for Accession Risk Management Group, Inc., which also manages captive insurance companies that introduce underwriting risk. The largest Specialty Distribution segment customer represented approximately 7.2% of that segment's total commissions and fees, while no material part of Retail revenue is attributable to any single customer.
Show full overview
The Accession acquisition introduced captive insurance underwriting exposure and pending litigation against Accession's subsidiary Oxford Risk Management Group LLC over the 2024 restructuring of certain financial guarantee policies for segregated captive cells. Total debt rose to $7,613 million following the transaction. Separately, the 10-K identifies IRS scrutiny of 831(b) captive advisory services as a risk: if the IRS were to disallow such elections or investigate Brown & Brown's related advisory business, results of operations and financial condition could be materially affected.
See also: Financial Services · Insurance Brokers
From Brown & Brown, Inc.'s most recent 10-K filing, extracted June 9, 2026.
Recent developments
updated Oct 27, 2026Recent Developments — Brown & Brown, Inc.
Latest news
- NEWS Why Brown & Brown (BRO) stock is trading lower today - TradingView — TradingView Oct 27, 2026 negative
- NEWS Is Brown & Brown (BRO) Undervalued After Its Q3 Earnings Miss? - Yahoo Finance — Yahoo Finance Oct 27, 2026 negative
- NEWS BRO Q3 Earnings Miss Estimates on Weak Growth, Margin Pressure - TradingView — TradingView Oct 27, 2026 negative
- NEWS Brown & Brown (BRO) Board Approves 9% Dividend Increase for Q4 2 - GuruFocus — GuruFocus Oct 21, 2026 positive
- NEWS Brown & Brown Raises Quarterly Dividend to $0.18 a Share From $0.165, Payable Nov. 11 to Holders of Record Nov. 4 - mark — marketscreener.com Oct 21, 2026 positive
Latest item Oct 27, 2026 · Generated 2026-11-05T11:49:09Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- LOWCustomerlargest Specialty Distribution segment customer7.2%10-K Item 1: 'Our largest Specialty Distribution segment customer represented approximately 7.2% of the segment's total commissions and fees.'
Material Events(8-K, last 90d)
- 2026-05-07Item 5.02LOWShareholders approved amendment to 2019 Stock Incentive Plan on May 6, 2026, increasing available shares by 6,900,000 and extending the plan term, following prior Compensation Committee approval. No officer departure or new appointment disclosed in this item.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
2 floor-breakers
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Growth below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $73.89, but acceptable to hold if already in. Reasons: Analyst target reached - limited upside remaining; Weak growth. Chart setup: Golden cross, above all MAs, RSI 62, MACD bullish. Maintain position. Not compelling to add more. Analyst target $66.95 reached (−9.4%), stop $68.87 (−7.3%), A.R:R -0.6:1. Score 5.5/10, moderate confidence.
Analyst target $66.95 reached (−9.4% from $73.89); no take-profit level is published. Analyst target $66.95 reached (−9.4%), stop $68.87 (−7.3%), A.R:R -0.6:1. Stop-loss: $68.87.
Analyst target reached - limited upside remaining; Weak growth.
Brown & Brown, Inc. trades at a P/E of 23.4 (forward 15.5). TrendMatrix value score: 6.7/10. Verdict: Hold.
28 analysts rate BRO, with a consensus score of 3.4/5. 18 analysts publish price targets averaging $74.
What does Brown & Brown, Inc. do?Brown & Brown markets and sells insurance products as an agent and broker, with two segments — Retail (58.7% of 2025...
Brown & Brown markets and sells insurance products as an agent and broker, with two segments — Retail (58.7% of 2025 commissions/fees) and Specialty Distribution (41.3%) — operating 468 domestic locations in 47 states plus 246 international locations. Total commissions and fees were $5,763 million in 2025; the company does not retain underwriting risk in its primary agency and brokerage operations.