Brown & Brown (BRO)
Places retail insurance and distributes specialty coverage through programs and wholesale brokerage.
Something off on this page? Send us feedback.
Places insurance and provides risk-management services through Retail, while Specialty Distribution manages carrier-backed programs and brokers complex or hard-to-place risks. Revenue comes mainly from policy commissions, with service fees and contingent commissions, through a decentralized network concentrated in the United States.
Sells and places property-casualty, employee-benefits and private-client coverage, alongside risk-management services, through a Retail segment serving businesses, public entities, professionals and individuals. Most revenue comes from commissions tied to policies placed, supplemented by service fees and contingent commissions.
Specialty Distribution combines Arrowhead Programs, Bridge Specialty Group and Arrowhead Specialty. These businesses manage carrier-backed programs, place wholesale and excess-and-surplus risks, and provide affinity programs, captive administration, reinsurance, travel, warranty and life-and-health services. Operations remain primarily in the United States, with retail and specialty platforms across selected international markets.
A decentralized sales-and-service model keeps customer decisions near local teams while central functions support acquisitions, technology and compliance. Results depend on carrier capacity and premium levels, while insurance-intermediary regulation varies by U.S. state and overseas jurisdiction.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 29, 2026 | Truist Financial | Target | Target: $120 | Target: $90 |
| Jul 29, 2026 | Citigroup | Downgrade | ||
| Jul 6, 2026 | Morgan Stanley | Downgrade | Target: $65 | Target: $55 |
| May 6, 2026 | Citigroup | Upgrade | ||
| Feb 27, 2026 | Mizuho | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $918.0M · Total debt $8.01B · Total assets $29.89B · Shareholders' equity $12.58B
- Revenue
- $1.68B
- Operating income
- $567.0M
- Net income
- $288.0M
HistoryDividendAnnual yield
| Institutions | 84.89% | 284.04M shares | |
|---|---|---|---|
| 821 holders · as of Jun 30, 2026 | |||
| Insiders | 3.73% | 12.47M shares | |
| 23 holders · as of Jun 10, 2026 | |||
| Other | 11.38% | 38.10M shares | |
| remainder | |||
334.61M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 6.61% | 22.11M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 5.66% | 18.94M | as of Jun 30, 2026 |
FMR LLCInstitution | 5.50% | 18.41M | as of Jun 30, 2026 |
Principal Financial Group IncInstitution | 4.70% | 15.72M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.37% | 14.63M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 9, 2026 | Joia M. Johnson | director | +860 | $58.05 |
| May 5, 2026 | H. Palmer Jr Proctor | director | +2,000 | $57.10 |
- Arthur J. Gallagher
Retail, wholesale, and MGU overlap across insurance distribution
- Ryan Specialty
Wholesale, binding, and underwriting specialty peer
- Marsh McLennan
Global broker overlap in risk, benefits, reinsurance, and captives
- Aon
Global broker overlap in risk, affinity, captives, and benefits
- Baldwin
Retail insurance brokerage peer with benefits and private-client overlap
- Willis Towers Watson
Global risk broking and benefits-consulting overlap
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Brown & Brown | $62.04 | −3.51% | $21.52B | 19.0 | 13.4 | 3.1 | +34.2% |
| Arthur J. Gallagher | $228.73 | −3.33% | $60.79B | 39.2 | 16.2 | 3.9 | +22.8% |
| Ryan Specialty | $37.84 | −5.54% | $5.19B | 51.5 | 16.6 | 1.6 | +7.2% |
| Marsh McLennan | $168.90 | −2.21% | $82.42B | 21.1 | 15.4 | 2.9 | +6.2% |
| Aon | $284.78 | −2.08% | $61.69B | 16.0 | 14.6 | 3.5 | +2.2% |
| Baldwin | $31.92 | +0.09% | $2.58B | — | 14.1 | 1.5 | +31.7% |
| Willis Towers Watson | $298.23 | −2.80% | $28.49B | 18.9 | 14.2 | 2.8 | +9.1% |
| Median | 21.1 | 15.0 | 2.9 | +8.1% |