Brown & Brown(BRO)

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Brown & Brown announces key leadership appointments in Retail segment
Globenewswire· 2025-10-02 11:30
Core Insights - Brown & Brown has announced strategic updates to its Retail segment leadership team, emphasizing its commitment to delivering world-class solutions and enhancing collaboration globally [1][2]. Leadership Appointments - The company is integrating new leaders into its Retail segment as Retail Senior Leaders (RSLs) and Retail Vice Presidents (RVPs) to drive growth and collaboration following the acquisition of Risk Strategies [2][4]. - Mark Manzi has been appointed as the North American Retail Brokerage Leader, responsible for overseeing carrier relationships across various lines including Property & Casualty, Employee Benefits, and Personal Lines [5]. Leadership Statements - John Mina, senior vice president of the Retail segment, highlighted the exceptional talent and proven track record of the new leaders, stating that their collective experience will enhance customer service and unlock growth opportunities [6]. - Barrett Brown, executive vice president and president of the Retail segment, described the appointments as a pivotal moment for the Retail segment, aimed at strengthening the foundation for scalable growth and enhancing collaboration [6]. Company Overview - Brown & Brown, Inc. is a leading insurance brokerage firm with a global presence in over 700 locations and a workforce of more than 23,000 professionals, dedicated to delivering innovative strategies for customers [7].
Brown & Brown, Inc. announces 2025 third-quarter earnings release and conference call dates
Globenewswire· 2025-10-01 10:45
DAYTONA BEACH, Fla., Oct. 01, 2025 (GLOBE NEWSWIRE) -- Brown & Brown, Inc. (NYSE: BRO) announces it will release its 2025 third-quarter earnings on Monday, October 27, 2025, after the close of the market. On Tuesday, October 28, 2025, J. Powell Brown, Brown & Brown’s president and chief executive officer, and R. Andrew Watts, Brown & Brown’s executive vice president and chief financial officer, will host an investor update conference call concerning Brown & Brown's third-quarter 2025 financial results. You ...
Brown & Brown, Inc. (BRO): A Bull Case Theory
Yahoo Finance· 2025-09-19 17:35
Company Overview - Brown & Brown, Inc. is a leading insurance brokerage with a focus on risk management and insurance solutions, operating across four core segments: Retail, Programs, Wholesale Brokerage, and Services [2] - The company serves a diverse clientele, including businesses, families, and organizations, addressing evolving coverage needs and shifting regulations [2] Business Model and Growth Drivers - Brown & Brown's business model is durable, characterized by stable client relationships supported by annual policy renewals and trust built through expertise [3] - Growth is driven by recurring commission and fee revenues, cross-selling opportunities, acquisitions of independent agencies, and the expansion of specialty and wholesale offerings [3] - The company has demonstrated strong execution, leveraging scale and long-term relationships to enhance its market position [3] Financial Performance and Valuation - The company generates significant free cash flow, reinforcing its status as a resilient compounder in a stable industry [4] - Current valuations indicate that the stock is trading around fair value, suggesting limited margin of safety, yet its cash flow strength and long-term compounding potential make it appealing for investors seeking durable growth [4] - The stock price has depreciated approximately 21.3% since previous coverage, primarily due to valuation headwinds, but the bullish thesis remains intact as the company continues to show durable execution [5]
BRO Stock Trading at a Discount to Industry at 19.69X: Time to Hold?
ZACKS· 2025-09-17 16:31
Core Insights - Brown & Brown, Inc. (BRO) shares are trading at a discount compared to the Zacks Brokerage Insurance industry, with a forward price-to-earnings multiple of 19.69X, lower than the industry average of 19.79X and the Zacks S&P 500 Composite's 23.39X [1] - The company has a market capitalization of $29.98 billion and an average trading volume of 3.3 million shares over the last three months [1] Financial Performance - Brown & Brown's shares have declined by 11.9% over the past year, while the industry has seen a larger decline of 19.4% [3] - The Zacks Consensus Estimate for Brown & Brown's 2025 earnings per share indicates an 8.3% year-over-year increase, with revenues projected at $5.83 billion, reflecting a 21.3% year-over-year improvement [3] - Earnings have grown by 21.5% over the past five years, surpassing the industry average growth of 15.2% [4] Growth Strategy - The company has completed 702 acquisitions since 1993, leveraging strategic buyouts to capture market opportunities and enhance its product and service portfolio [8][12] - Brown & Brown has met its intermediate annual revenue goal of $4 billion, doubling its revenue in the last five years [11] Dividend and Capital Position - The company has a strong dividend history, having raised dividends for 30 consecutive years, with a five-year compound annual growth rate (CAGR) of 8.7% from 2019 to 2024 [8][14] - Brown & Brown maintains a robust liquidity position and an improving leverage ratio, ensuring strong cash conversion and effective cash deployment for acquisitions and shareholder dividends [13] Analyst Sentiment - The average price target for BRO, based on short-term estimates from 14 analysts, is $111.50 per share, suggesting a potential upside of 22.6% from the last closing price [9] - Positive analyst sentiment and favorable growth estimates position the company well for future growth [15]
How Is Brown & Brown's Stock Performance Compared to Other Insurance Stocks?
Yahoo Finance· 2025-09-16 07:03
Company Overview - Brown & Brown, Inc. is based in Daytona Beach, Florida, and operates in the insurance products and services market both in the U.S. and internationally, with a market cap of $30.9 billion [1] - The company is categorized as a large-cap stock, reflecting its substantial size and influence in the insurance brokerage industry [2] Stock Performance - Brown & Brown's stock has experienced a significant decline, dropping 27.7% from its all-time high of $125.68 on April 3, and 14.8% over the past three months, underperforming the iShares U.S. Insurance ETF's slight dip of 33 basis points during the same period [3] - Over the longer term, the stock has plummeted 10.9% in 2025 and 11.9% over the past 52 weeks, notably underperforming the ETF's gains of 4.4% in 2025 and 3% over the past year [4] Recent Financial Results - Following the release of mixed Q2 results on July 28, Brown & Brown's stock fell 10.4% in a single trading session, despite net revenues increasing 9.1% year-over-year to $1.3 billion, exceeding expectations [5] - The adjusted EPS for the quarter rose 10.8% year-over-year to $1.03, surpassing consensus estimates by 4% [5] Profitability Concerns - Investor concerns have been raised due to a 520 basis points contraction in profit before tax margin to 24.2%, down from 29.4% in the previous year, and a 450 basis points contraction in GAAP-based EBITDAC margin to 33.8% [6] - The company has also underperformed compared to its peer, Arthur J. Gallagher & Co., which saw 2% gains year-to-date and a 2.7% dip over the past 52 weeks [6] Analyst Outlook - Despite recent performance issues, analysts maintain a positive outlook, with a consensus rating of "Moderate Buy" among 18 analysts covering the stock [7] - The mean price target for Brown & Brown is set at $111.50, indicating a potential upside of 22.7% from current price levels [7]
Brown & Brown, Inc. named to Fortune Media and Great Place To Work 2025 Best Workplaces in Financial Services & Insurance List for the sixth consecutive year
Globenewswire· 2025-09-09 11:10
Core Insights - Brown & Brown, Inc. has been recognized as one of the 2025 Fortune Best Workplaces in Financial Services & Insurance for the sixth consecutive year, highlighting its strong workplace culture and employee satisfaction [1][3]. Company Overview - Brown & Brown, Inc. is a leading insurance brokerage firm established in 1939, with over 700 locations and a workforce exceeding 23,000 professionals, dedicated to providing customized insurance solutions [5]. Recognition and Awards - The recognition from Fortune is based on survey responses from over 194,000 employees at Great Place To Work Certified companies in the financial services and insurance sector, indicating that Brown & Brown is among the best companies to work for in the U.S. [3][6]. - Earlier in the year, Brown & Brown received the 2024-2025 Platinum Level Bell Seal for Workplace Mental Health from Mental Health America for the third consecutive year, further emphasizing its commitment to employee well-being [4]. Cultural Values - The company emphasizes a culture that prioritizes teammates, focusing on collaboration and shared values, which is seen as a key differentiator in its success [2][4].
How Brown & Brown's Wholesale Brokerage Fuels Growth Momentum?
ZACKS· 2025-09-05 18:36
Core Insights - Wholesale Brokerage is a cornerstone of Brown & Brown, Inc.'s (BRO) platform, providing earnings diversity and reinforcing the company's resilience across insurance cycles [1][9] - The insurance industry is currently experiencing a hard market cycle that began in 2018, leading to higher pricing and sustained profitability [2] Financial Performance - In Q2 2025, BRO's revenues increased by 14.5% year over year to $182 million, with organic growth of 3.9% [3] - EBITDAC rose by 17% to $62 million, expanding margins to 34.1% [3] - Management forecasts an 8.4% organic growth in 2025, highlighting Wholesale Brokerage's role as a key driver of profitability [3] Strategic Importance - Wholesale Brokerage delivers recurring revenue through core and contingent commissions, with guaranteed supplemental commissions and investment income providing additional support [2] - Recent acquisitions have complemented organic growth from new business, increased exposure, and solid retention [2] - The combination of rate improvements across various insurance lines is expected to sustain momentum [2] Valuation and Estimates - BRO shares trade at a price to forward 12-month earnings of 20.78, slightly above the industry average of 20.57 [10] - The Zacks Consensus Estimate for BRO's 2025 earnings implies a 7.6% growth year over year, followed by a 16.5% increase in the subsequent year [11]
Brown & Brown, Inc. Chief Operating Officer Steve Hearn to lead all operations outside of North America
Globenewswire· 2025-09-03 10:45
Core Viewpoint - Brown & Brown, Inc. has appointed Chief Operating Officer Steve Hearn to lead all operations outside of North America, aiming to enhance global capabilities and drive growth [1][2]. Company Overview - Brown & Brown, Inc. is a leading insurance brokerage firm established in 1939, with over 700 locations and a workforce of more than 23,000 professionals [3]. - The company specializes in delivering comprehensive and customized insurance solutions, focusing on scalable and innovative strategies for customer growth [3]. Leadership Change - The appointment of Steve Hearn is expected to strengthen the company's position as an industry leader globally and enhance relationships in the global market [2]. - The leadership change is seen as a strategic move to further invest in the global marketplace and leverage robust global capabilities [2].
Brown & Brown Trades Below 50-Day SMA: How to Play the Stock?
ZACKS· 2025-08-18 18:30
Core Viewpoint - Brown & Brown, Inc. (BRO) is currently trading below its 50-day simple moving average, indicating a short-term bearish trend [1] Group 1: Valuation and Market Performance - Shares of Brown & Brown are trading at a price-to-forward 12-month earnings ratio of 20.88X, which is above the Zacks Brokerage industry average of 18.69X and the Finance sector's 16.9X, but below the Zacks S&P 500 Composite's 22.86X [2] - The company has a market capitalization of $31.4 billion, with an average trading volume of 3.8 million shares over the last three months [2] - Year-to-date, shares of Brown & Brown have declined by 6.5%, while the industry has seen a decline of 13.8%, and the Finance sector and Zacks S&P 500 Composite have gained 10.8% and 9.6%, respectively [4] Group 2: Financial Performance and Projections - The Zacks Consensus Estimate for Brown & Brown's 2025 revenues is $5.8 billion, reflecting a year-over-year improvement of 21.5% [12] - The current-year earnings estimate is $4.13 per share, which is a 7.5% increase from the previous year [12] - The company has maintained a strong liquidity position, exiting Q2 2025 with $8.9 billion in cash, over 13 times higher than the end of 2024 [16] Group 3: Business Strategy and Growth - Brown & Brown has completed 702 acquisitions since 1993, which has diversified its operations and broadened its geographic reach [13] - The Retail segment, contributing over 50% of total revenues, has shown consistent growth due to higher core commissions, profit-sharing, and investment income [14] - The Wholesale Brokerage segment is expected to drive revenues through improving new business, good retention, and rate increases across various lines of coverage [15] Group 4: Profitability and Financial Health - The company's return on equity (ROE) is 15.1%, which is below the industry average of 25.3%, indicating weaker utilization of shareholder funds [19] - The trailing 12-month debt-to-capital ratio is 39.38, significantly lower than the industry average of 50.12, reflecting a conservative balance sheet [17] Group 5: Risks and Challenges - The company's international expansion introduces complexities such as regulatory changes, currency fluctuations, and increased competition, which could pressure margins [18] - Profitability metrics, including return on invested capital (ROIC) of 7.2%, also lag behind industry averages, indicating inefficiencies [19]
Joia M. Johnson named to Brown & Brown, Inc. board of directors
Globenewswire· 2025-08-18 10:45
Core Insights - Brown & Brown, Inc. has appointed Joia M. Johnson to its board of directors, bringing extensive experience from her previous roles at Hanesbrands Inc. and RARE Hospitality International, Inc. [1][2] Company Overview - Brown & Brown, Inc. is a leading insurance brokerage firm established in 1939, with over 700 locations and a workforce of more than 23,000 professionals [4]. Leadership and Governance - H. Palmer Proctor, Jr., lead independent director, highlighted Johnson's ability to navigate complexity and her experience on various publicly traded boards [2]. - J. Powell Brown, CEO, emphasized that Johnson's unique experience will significantly impact the board and support the company's growth strategy [2]. Joia M. Johnson's Background - Johnson served as Hanes' chief administrative officer from 2016 to 2021 and held multiple leadership roles from 2007 to 2021 [2]. - Prior to her tenure at Hanes, she was executive vice president and general counsel at RARE Hospitality International, Inc. from 2001 to 2007 [2]. Board Memberships - Johnson currently serves on the boards of Global Payments Inc., Sylvamo Corporation, and Regions Financial Corp., holding various committee memberships [3].