Brown & Brown has delivered four consecutive earnings beats on the back of strong margins and exceptional free cash flow conversion, but the shares are trading in a confirmed downtrend below the 200-day moving average—making the quality story intact but the near-term entry timing challenged.
Thesis pillars
- Consistent Earnings Beat Streak→Stable
- Superior Free Cash Flow Conversion→Stable
- Industry Leading Revenue Growth→Stable
- +1 more pillar — see the Why tab for full reasoning
Brown & Brown, Inc. (BRO) Stock Analysis
Range Bound setup
Financial Services · Insurance Brokers
Wait for pullback to $62.46. Weak momentum; also below 200-day MA (death cross), recent C-suite change — blocks BUY_NOW at $67.66. Engine's entry $62.46 (support + ATR (held)) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risk: Analyst target reached - limited upside remaining.
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
Wait for pullback to $62.46. Weak momentum; also below 200-day MA (death cross), recent C-suite change — blocks BUY_NOW at $67.66. Engine's entry $62.46 (support + ATR (held)) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risk: Analyst target reached - limited upside remaining. Chart setup: RSI 47 mid-range, Bollinger mid-band. Earnings in 2 days. Wait until post-earnings. Score 6.5/10, moderate confidence.
Passes 4/9 gates (clean insider activity, news events none recent, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and favorable risk/reward ratio and death cross (50MA < 200MA) and earnings proximity 2d<=7d. 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 2026-07-25Recent Developments — Brown & Brown, Inc.
Latest news
- NEWS Why Is Brown & Brown (BRO) Down 9.7% Since Last Earnings Report? - Yahoo Finance — Yahoo Finance negative
- NEWS Jones Kertz & Associates, Inc.'s Brown & Brown Inc(BRO) Holding History - GuruFocus — GuruFocus neutral
- NEWS Wells Fargo Maintains Brown & Brown(BRO.US) With Hold Rating, Maintains Target Price $69 - Moomoo — Moomoo neutral
- NEWS Brown & Brown Inc. stock outperforms competitors on strong trading day - MarketWatch — MarketWatch positive
- NEWS Brown & Brown Appoints Neil Krauter Sr. as Executive Managing Director to Drive Growth and Specialization in Retail Segm — Quiver Quantitative positive
Generated 2026-07-25T18:07:00Z.
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.
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Rating Breakdown
2 floor-breakers·1 ceiling hit
Momentum below the gate floor. Component breakdown shows what dragged the score down.static
Technicals 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
Wait for pullback to $62.46. Weak momentum; also below 200-day MA (death cross), recent C-suite change — blocks BUY_NOW at $67.66. Engine's entry $62.46 (support + ATR (held)) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risk: Analyst target reached - limited upside remaining. Chart setup: RSI 47 mid-range, Bollinger mid-band. Earnings in 2 days. Wait until post-earnings. Target $69.94 (+3.4%), stop $58.58 (−15.5%), A.R:R -0.1:1. Score 6.5/10, moderate confidence.
Take-profit target: $69.94 (-1.1% upside). Target $69.94 (+3.4%), stop $58.58 (−15.5%), A.R:R -0.1:1. Stop-loss: $58.58.
Analyst target reached - limited upside remaining.
Brown & Brown, Inc. trades at a P/E of 22.0 (forward 14.0). TrendMatrix value score: 6.9/10. Verdict: Buy (Wait for Entry).
26 analysts cover BRO with a consensus score of 3.4/5. Average price target: $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.