Is Wall Street Bullish or Bearish on Brown & Brown Stock?

Daytona Beach, Florida-based Brown & Brown, Inc. (BRO) markets and sells insurance products and services. Valued at $23.4 billion by market cap, the company also provides risk management, employee benefit administration, and managed health care services. 

Shares of this leading insurance brokerage firm have considerably underperformed the broader market over the past year. BRO has declined 38.3% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 11.8%. In 2026, BRO stock is down 14.1%, compared to the SPX’s marginal fall on a YTD basis. 

Narrowing the focus, BRO’s underperformance is also apparent compared to the SPDR S&P Insurance ETF (KIE). The exchange-traded fund has declined about 1.5% over the past year. Moreover, the ETF’s 4.5% losses on a YTD basis outshine the stock’s double-digit dip over the same time frame.

On Jan. 26, BRO reported its Q4 results, and its shares closed down by 6.9% in the following trading session. Its adjusted EPS of $0.93 topped Wall Street expectations of $0.91. The company’s revenue was $1.61 billion, missing Wall Street forecasts of $1.64 billion.

For the current fiscal year, ending in December, analysts expect BRO’s EPS to grow 6.8% to $4.55 on a diluted basis. The company’s earnings surprise history is mixed. It beat the consensus estimate in three of the last four quarters while missing the forecast on another occasion.

Among the 20 analysts covering BRO stock, the consensus is a “Hold.” That’s based on one “Strong Buy” rating, one “Moderate Buy,” and 18 “Holds.” 

This configuration is less bullish than a month ago, with two analysts suggesting a “Strong Buy,” and one recommending a “Moderate Sell.”

On Feb. 13, Elyse Greenspan from Wells Fargo & Company (WFC) maintained a “Hold” rating on BRO with a price target of $78, implying a potential upside of 13.9% from current levels.

The mean price target of $86.53 represents a 26.4% premium to BRO’s current price levels. The Street-high price target of $117 suggests an ambitious upside potential of 70.9%.