Market Summary
USD71.08-1.02
Market Closed-1.41%
BRO Stock Price
BRO RSI Chart
BRO Valuation
BRO Price/Sales (Trailing)
BRO Profitability
BRO Fundamentals
BRO Revenue
BRO Earnings
Price Action
52 Week Range
52.8274.57
(Low)(High)
Last 7 days
-1.7%
Last 30 days
-1.3%
Last 90 days
7.9%
Trailing 12 Months
22.6%
BRO Financial Health
BRO Investor Care
Historical Charts for Stock Metrics
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Net sales
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Latest Insider Trading transactions for BRO
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-08-08 | Hunt James S | gifted | - | - | -216 | - |
2023-06-21 | Masojada Bronislaw Edmund | bought | 263,120 | 65.78 | 4,000 | - |
2023-06-16 | VARNER CHILTON D | gifted | - | - | -20,000 | - |
2023-05-24 | Hunt James S | acquired | 7,219 | 62.78 | 115 | - |
2023-05-03 | JENNINGS TONI | acquired | - | - | 1,848 | - |
2023-05-03 | PROCTOR H PALMER JR | acquired | - | - | 1,848 | - |
2023-05-03 | Hoepner Theodore J | acquired | - | - | 1,848 | - |
2023-05-03 | GELLERSTEDT LAWRENCE L III | acquired | - | - | 1,848 | - |
2023-05-03 | Reilly Wendell | acquired | - | - | 1,848 | - |
2023-05-03 | Main Timothy R.M. | acquired | - | - | 1,848 | - |
Which funds bought or sold BRO recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-09-21 | Jefferies Group LLC | new | - | 2,570,400 | 2,570,400 | 0.02% |
2023-09-20 | BARCLAYS PLC | added | 208 | 45,305,000 | 62,084,000 | 0.04% |
2023-09-12 | Farther Finance Advisors, LLC | unchanged | - | 17,656 | 106,427 | 0.02% |
2023-09-08 | TUCKER ASSET MANAGEMENT LLC | unchanged | - | 411 | 2,478 | -% |
2023-08-28 | DT Investment Partners, LLC | unchanged | - | 62.00 | 1,050 | -% |
2023-08-25 | STRATEGY ASSET MANAGERS LLC | added | 0.46 | 53,651 | 315,991 | 0.07% |
2023-08-24 | Alberta Investment Management Corp | unchanged | - | 47,964 | 289,128 | -% |
2023-08-23 | Stonebridge Capital Advisors LLC | unchanged | - | 46,822 | 282,244 | 0.03% |
2023-08-22 | Asset Dedication, LLC | unchanged | - | 6,000 | 35,000 | -% |
2023-08-22 | COMERICA BANK | new | - | 11,000 | 11,000 | -% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
Schedule 13G FIlings of Brown & Brown
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Feb 14, 2023 | select equity group, l.p. | 6.1% | 17,261,734 | SC 13G/A | |
| Feb 09, 2023 | vanguard group inc | 9.81% | 27,779,153 | SC 13G/A | |
| Feb 01, 2023 | blackrock inc. | 5.8% | 16,545,072 | SC 13G/A | |
| Feb 14, 2022 | select equity group, l.p. | 6.5% | 18,275,989 | SC 13G | |
| Feb 01, 2022 | blackrock inc. | 6.9% | 19,349,635 | SC 13G/A | |
| Jan 10, 2022 | vanguard group inc | 10.01% | 28,277,849 | SC 13G/A | |
| Feb 10, 2021 | vanguard group inc | 8.62% | 24,488,374 | SC 13G/A | |
| Jan 29, 2021 | blackrock inc. | 9.7% | 27,475,696 | SC 13G/A | |
| Feb 12, 2020 | vanguard group inc | 9.10% | 25,650,333 | SC 13G/A | |
| Feb 10, 2020 | blackrock inc. | 10.4% | 29,213,264 | SC 13G/A |
Recent SEC filings of Brown & Brown
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Sep 14, 2023 | 8-K | Current Report | |
| Aug 08, 2023 | 4 | Insider Trading | |
| Jul 27, 2023 | 10-Q | Quarterly Report | |
| Jul 24, 2023 | 8-K | Current Report | |
| Jun 27, 2023 | 11-K | Employee Benefit Details | |
| Jun 22, 2023 | 4 | Insider Trading | |
| Jun 21, 2023 | 4 | Insider Trading | |
| Jun 20, 2023 | 3 | Insider Trading | |
| Jun 20, 2023 | 3 | Insider Trading |
Peers (Alternatives to Brown & Brown)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
MMC | 95.6B | 21.6B | 0.61% | 29.56% | 29.13 | 4.43 | 4.57% | -2.84% |
AON | 67.8B | 12.9B | 1.04% | 22.73% | 25.08 | 5.27 | 3.53% | 78.84% |
AJG | 49.8B | 9.2B | 2.48% | 36.49% | 44.74 | 5.4 | 7.35% | 5.16% |
RE | 25.2B | 13.3B | 0.67% | 24.34% | 20.79 | 1.9 | 12.64% | 55.58% |
BRO | 20.2B | 4.0B | -1.33% | 22.61% | 27.53 | 5.05 | 22.72% | 19.33% |
AFG | 9.5B | 7.5B | -1.19% | -3.17% | 11.11 | 1.26 | 12.86% | -17.26% |
| MID-CAP | ||||||||
UNM | 9.2B | 12.1B | 2.53% | 30.03% | 6.51 | 0.77 | 1.23% | 31.52% |
AIZ | 7.8B | 10.6B | 6.45% | 0.96% | 22.45 | 0.73 | 3.62% | -71.27% |
GNW | 2.7B | 7.5B | 5.23% | 68.72% | 5.04 | 0.36 | -1.40% | -38.58% |
| SMALL-CAP | ||||||||
GSHD | 1.8B | 242.3M | 27.16% | 106.36% | 298.37 | 7.34 | 37.52% | 918.24% |
BRP | 1.4B | 1.1B | -3.52% | -7.25% | -12.78 | 1.26 | 47.14% | -2460.07% |
EHTH | 207.6M | 390.2M | -5.32% | 61.73% | -3.36 | 0.53 | -15.74% | 60.20% |
HALL | 78.6M | 162.3M | -9.88% | -80.00% | -0.73 | 0.39 | -9.82% | -20.58% |
KINS | 19.6M | 146.0M | -4.10% | -30.94% | -1.45 | 0.13 | 4.52% | 41.12% |
Brown & Brown News
Returns for BRO
Cumulative Returns on BRO
17.3%
10-Year Cumulative Returns
22.4%
7-Year Cumulative Returns
20.4%
5-Year Cumulative Returns
18.6%
3-Year Cumulative Returns
Risks for BRO
What is the probability of a big loss on BRO?
38.5%
Probability that Brown & Brown stock will be more than 20% underwater in next one year
18.5%
Probability that Brown & Brown stock will be more than 30% underwater in next one year.
0%
Probability that Brown & Brown stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does BRO drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Brown & Brown was unfortunately bought at previous high price.
Drawdowns
Financials for Brown & Brown
Income Statement (Last 12 Months)(In Millions)
| Income Statement (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Revenue | 5.5% | 3,992 | 3,785 | 3,573 | 3,411 | 3,253 | 3,141 | 3,051 | 2,955 | 2,859 | 2,730 | 2,613 | 2,550 | 2,495 | 2,471 | 2,392 | 2,322 | 2,234 | 2,132 | 2,014 | 1,980 | 1,925 |
| Operating Expenses | 5.3% | 3,031 | 2,879 | 2,697 | 2,588 | 2,452 | 2,352 | 2,289 | 2,202 | 2,144 | 2,072 | 1,989 | 1,955 | 1,906 | 1,889 | 1,866 | 1,797 | 1,719 | 1,640 | 1,552 | 1,512 | 1,475 |
| EBITDA | -100.0% | - | 1,116 | 1,057 | 971 | 922 | 889 | 861 | 851 | 808 | 718 | 683 | 653 | 650 | 646 | 590 | - | - | - | - | - | - |
| EBITDA Margin | -100.0% | - | 0.29* | 0.30* | 0.28* | 0.28* | 0.28* | 0.28* | 0.29* | 0.28* | 0.26* | 0.26* | 0.26* | 0.26* | 0.26* | 0.25* | - | - | - | - | - | - |
| Interest Expenses | 7.0% | 182 | 170 | 141 | 112 | 87.00 | 67.00 | 65.00 | 65.00 | 63.00 | 60.00 | 59.00 | 58.00 | 61.00 | 64.00 | 64.00 | 60.00 | 52.00 | 46.00 | 41.00 | 38.00 | 38.00 |
| Earnings Before Taxes | 6.1% | 961 | 905 | 876 | 823 | 801 | 789 | 763 | 753 | 715 | 658 | 624 | 595 | 589 | 583 | 526 | 524 | 515 | 493 | 462 | 468 | 450 |
| EBT Margin | -100.0% | - | 0.24* | 0.25* | 0.24* | 0.25* | 0.25* | 0.25* | 0.25* | 0.25* | 0.24* | 0.24* | 0.23* | 0.24* | 0.24* | 0.22* | - | - | - | - | - | - |
| Net Income | 6.6% | 732 | 687 | 672 | 628 | 614 | 608 | 587 | 583 | 570 | 528 | 480 | 460 | 441 | 437 | 399 | 395 | 386 | 367 | 344 | 458 | 428 |
| Net Income Margin | -100.0% | - | 0.18* | 0.19* | 0.18* | 0.19* | 0.19* | 0.19* | 0.20* | 0.20* | 0.19* | 0.18* | 0.18* | 0.18* | 0.18* | 0.17* | - | - | - | - | - | - |
| Free Cashflow | -100.0% | - | 783 | 829 | 738 | 871 | 877 | 897 | 760 | 625 | 747 | 651 | 689 | 715 | 640 | 605 | - | - | - | - | - | - |
Balance Sheet(In Millions)
| Balance Sheet | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Assets | 5.0% | 14,072 | 13,400 | 13,974 | 13,658 | 12,280 | 11,273 | 9,795 | 9,629 | 9,358 | 8,911 | 8,967 | 8,795 | 8,201 | 7,582 | 7,623 | 7,681 | 7,165 | 6,806 | 6,689 | 5,803 | 5,702 |
| Current Assets | 12.4% | 4,895 | 4,356 | 4,996 | 4,851 | 5,330 | 4,309 | 3,330 | 3,398 | 3,192 | 2,793 | 2,958 | 3,164 | 2,705 | 2,284 | 2,495 | 2,607 | 2,292 | 1,995 | 2,167 | 2,013 | 2,041 |
| Cash Equivalents | 11.4% | 628 | 564 | 650 | 580 | 2,384 | 2,426 | 1,470 | 785 | 625 | 512 | 656 | 1,070 | 623 | 386 | 963 | 498 | 433 | 322 | 778 | 423 | 478 |
| Net PPE | 1.3% | 245 | 242 | 240 | 239 | 215 | 215 | 212 | 208 | 209 | 206 | 201 | 188 | 174 | 159 | 149 | 129 | 123 | 117 | 100 | 90.00 | 85.00 |
| Goodwill | 2.0% | 6,865 | 6,730 | 6,674 | 6,522 | 5,149 | 5,141 | 4,737 | 4,565 | 4,514 | 4,473 | 4,396 | 4,124 | 4,023 | 3,882 | 3,746 | 3,702 | 3,552 | 3,513 | 3,433 | 2,930 | 2,846 |
| Current Liabilities | 9.0% | 4,158 | 3,813 | 4,597 | 4,239 | 2,900 | 2,439 | 2,667 | 2,889 | 2,801 | 2,241 | 2,354 | 2,240 | 2,258 | 1,891 | 2,045 | 2,149 | 1,907 | 1,647 | 1,783 | 1,633 | 1,657 |
| LT Debt, Current | -78.4% | 53.00 | 246 | 251 | 68.00 | 68.00 | 43.00 | 43.00 | 290 | 300 | 70.00 | 70.00 | 66.00 | 63.00 | 59.00 | 55.00 | 55.00 | 55.00 | 55.00 | 50.00 | 30.00 | 25.00 |
| LT Debt, Non Current | 2.2% | 3,762 | 3,680 | 3,692 | 4,040 | 4,156 | 3,497 | 1,980 | 1,755 | 1,762 | 2,009 | 2,026 | 2,043 | 1,566 | 1,483 | 1,500 | 1,514 | 1,427 | 1,440 | 1,457 | 832 | 842 |
| Shareholder's Equity | 4.7% | 5,073 | 4,845 | 4,607 | 4,311 | 4,283 | 4,335 | 4,197 | 4,108 | 3,946 | 3,831 | 3,754 | 3,702 | 3,584 | 3,480 | 3,350 | 3,315 | 3,181 | 3,098 | 3,001 | 2,939 | 2,831 |
| Retained Earnings | 3.3% | 4,914 | 4,756 | 4,553 | 4,440 | 4,308 | 4,192 | 4,001 | 3,928 | 3,808 | 3,694 | 3,521 | 3,452 | 3,342 | 3,269 | 3,141 | 3,088 | 2,995 | 2,925 | 2,834 | 2,783 | 2,697 |
| Additional Paid-In Capital | 2.1% | 927 | 908 | 920 | 903 | 836 | 824 | 849 | 830 | 785 | 773 | 795 | 764 | 749 | 718 | 716 | 704 | 653 | 621 | 615 | 525 | 503 |
| Shares Outstanding | 0% | 284 | 284 | 283 | 283 | 282 | 283 | 283 | 282 | 282 | 282 | 283 | 284 | 284 | 283 | 282 | 282 | - | - | 280 | 281 | 276 |
Cashflow (Last 12 Months)(In Millions)
| Cashflow (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Cashflow From Operations | 10.3% | 924 | 838 | 881 | 781 | 775 | 774 | 809 | 801 | 676 | 817 | 713 | 771 | 789 | 707 | 678 | 659 | 596 | 493 | 568 | 484 | 449 |
| Share Based Compensation | 9.8% | 77.00 | 70.00 | 66.00 | 65.00 | 62.00 | 62.00 | 61.00 | 63.00 | 62.00 | 69.00 | 60.00 | 56.00 | 53.00 | 43.00 | 47.00 | 45.00 | 43.00 | 39.00 | 34.00 | 32.00 | 30.00 |
| Cashflow From Investing | -4.6% | -1,579 | -1,510 | -1,912 | -2,103 | -728 | -760 | -396 | -513 | -568 | -672 | -759 | -526 | -555 | -466 | -413 | -1,019 | -985 | -1,024 | -951 | -293 | -190 |
| Cashflow From Financing | -228.6% | -394 | 306 | 1,725 | 1,932 | 2,020 | 1,275 | -210 | -361 | 182 | 221 | 355 | 383 | 14.00 | -89.43 | -79.22 | 510 | 417 | 330 | 338 | -288 | -348 |
| Dividend Payments | 2.9% | 127 | 123 | 120 | 116 | 113 | 110 | 107 | 107 | 105 | 103 | 101 | 96.00 | 94.00 | 93.00 | 91.00 | 90.00 | 88.00 | 86.00 | 85.00 | 83.00 | 81.00 |
| Buy Backs | -99.8% | 0.00 | 50.00 | 74.00 | 74.00 | 75.00 | 37.00 | 83.00 | 130 | 135 | 124 | 55.00 | 36.00 | 40.00 | 60.00 | 59.00 | 110 | 100 | 80.00 | 91.00 | 83.00 | 129 |
BRO Income Statement
2023-06-30CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
| REVENUES | ||||
| Commissions and fees | $ 1,035.9 | $ 838.7 | $ 2,143.9 | $ 1,743.1 |
| Investment income | 10.3 | 0.4 | 17.3 | 0.6 |
| Other income, net | 1.1 | 0.6 | 2.1 | 0.8 |
| Total revenues | 1,047.3 | 839.7 | 2,163.3 | 1,744.5 |
| EXPENSES | ||||
| Employee compensation and benefits | 530.2 | 412.1 | 1,101.3 | 871.0 |
| Other operating expenses | 162.0 | 154.0 | 322.7 | 280.8 |
| (Gain)/loss on disposal | (0.4) | (0.7) | (6.1) | (0.9) |
| Amortization | 41.2 | 33.6 | 82.6 | 64.7 |
| Depreciation | 10.2 | 8.9 | 20.1 | 17.1 |
| Interest | 47.9 | 36.0 | 94.6 | 54.3 |
| Change in estimated acquisition earn-out payables | 1.8 | (3.0) | (0.5) | (6.4) |
| Total expenses | 792.9 | 640.9 | 1,614.7 | 1,280.6 |
| Income before income taxes | 254.4 | 198.8 | 548.6 | 463.9 |
| Income taxes | 64.0 | 53.6 | 122.7 | 98.4 |
| Net income | $ 190.4 | $ 145.2 | $ 425.9 | $ 365.5 |
| Net income per share: | ||||
| Basic (in dollars per share) | $ 0.67 | $ 0.51 | $ 1.50 | $ 1.29 |
| Diluted (in dollars per share) | 0.67 | 0.51 | 1.50 | 1.29 |
| Dividends declared per share (in dollars per share) | $ 0.115 | $ 0.103 | $ 0.230 | $ 0.205 |
BRO Balance Sheet
2023-06-30CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
|---|---|---|
| Current Assets: | ||
| Cash and cash equivalents | $ 627.9 | $ 650.0 |
| Fiduciary cash | 1,635.5 | 1,383.2 |
| Short-term investments | 10.1 | 12.0 |
| Commission, fees and other receivables | 751.3 | 642.9 |
| Fiduciary receivables | 1,005.0 | 881.4 |
| Reinsurance recoverable | 187.2 | 831.0 |
| Prepaid reinsurance premiums | 450.6 | 393.2 |
| Other current assets | 227.3 | 202.3 |
| Total current assets | 4,894.9 | 4,996.0 |
| Fixed assets, net | 244.7 | 239.9 |
| Operating lease assets | 204.9 | 214.9 |
| Goodwill | 6,865.1 | 6,674.2 |
| Amortizable intangible assets, net | 1,562.5 | 1,595.2 |
| Investments | 27.5 | 22.4 |
| Other assets | 271.9 | 230.9 |
| Total assets | 14,071.5 | 13,973.5 |
| Current Liabilities: | ||
| Fiduciary liabilities | 2,640.5 | 2,264.6 |
| Losses and loss adjustment reserve | 198.8 | 841.1 |
| Unearned premiums | 487.5 | 412.3 |
| Accounts payable | 329.1 | 286.5 |
| Accrued expenses and other liabilities | 448.6 | 541.5 |
| Current portion of long-term debt | 53.1 | 250.6 |
| Total current liabilities | 4,157.6 | 4,596.6 |
| Long-term debt less unamortized discount and debt issuance costs | 3,762.4 | 3,691.5 |
| Operating lease liabilities | 186.0 | 195.9 |
| Deferred income taxes, net | 571.9 | 584.0 |
| Other liabilities | 321.1 | 298.9 |
| Shareholders’ Equity: | ||
| Common stock, par value $0.10 per share; authorized 560.0 shares; issued 303.3 shares and outstanding 283.6 shares at 2023, issued 302.9 shares and outstanding 283.2 shares at 2022, respectively | 30.3 | 30.3 |
| Additional paid-in capital | 927.1 | 919.7 |
| Treasury stock, at cost 19.7 shares at 2023, 19.7 shares at 2022, respectively. | (748.1) | (748.0) |
| Accumulated other comprehensive loss | (50.5) | (148.4) |
| Retained earnings | 4,913.7 | 4,553.0 |
| Total shareholders’ equity | 5,072.5 | 4,606.6 |
| Total liabilities and shareholders’ equity | $ 14,071.5 | $ 13,973.5 |
Brown & Brown, Inc. markets and sells insurance products and services in the United States, Bermuda, Canada, Ireland, the United Kingdom, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, loss control survey and analysis, consultancy, and claims processing services. It serves commercial, public and quasi-public entities, professional, and individual customers. The National Programs segment offers professional liability and related package insurance products for dentistry, legal, eyecare, insurance, financial, physicians, real estate title professionals, as well as supplementary insurance products related to weddings, events, medical facilities, and cyber liabilities. This segment also offers outsourced product development, marketing, underwriting, actuarial, compliance, and claims and other administrative services to insurance carrier partners; and commercial and public entity-related programs, and flood insurance products. It serves through independent agents. The Wholesale Brokerage segment markets and sells excess and surplus commercial and personal lines insurance through independent agents and brokers. The Services segment offers third-party claims administration and medical utilization management services in the workers' compensation and all-lines liability arenas, Medicare Set-aside, Social Security disability, Medicare benefits advocacy, and claims adjusting services. The company was founded in 1939 and is headquartered in Daytona Beach, Florida.