First Eagle Investment Management Adds $566M in Brown & Brown, Inc. ($BRO)
First Eagle Investment Management opens a new position in Brown & Brown, Inc., acquiring over 8.8 million shares.
Key Points
- First Eagle Investment Management opened a new position in Brown & Brown, Inc. (NYSE:BRO) with 8,823,162 shares valued at $545.3 million.
- Shares of Brown & Brown traded near $61.80 on Thursday, with a market cap of $19.74 billion and a P/E ratio of 18.97.
- Insiders recently bought shares, and analysts set price targets ranging from $60 to $90 with varied ratings.
Important disclosure: Podchat is not a registered investment adviser, broker-dealer, or financial planner. This article is for informational and educational purposes only and is not a recommendation to buy, sell, or hold any security. Content may be generated by automated systems using public filings, market data, and third-party sources, and may contain errors or omissions. Investing involves risk, including possible loss of principal. Past performance, insider activity, analyst ratings, price targets, sentiment scores, and hypothetical or backtested results are not guarantees of future performance. Please do your own research and consult a qualified professional before making investment decisions.
First Eagle Investment Management has opened a new position in Brown & Brown, Inc. (NYSE:BRO), acquiring 8,823,162 shares valued at approximately $545.3 million. This move was disclosed in the firm's latest 13F filing with the SEC, reflecting holdings as of the reporting period.
First Eagle Investment Management vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
What Changed in First Eagle Investment Management's Brown & Brown Position
First Eagle Investment Management opened a new position in Brown & Brown, Inc., acquiring 8,823,162 shares. This new stake is valued at about $545.3 million, marking a significant investment in the insurance brokerage firm.
Other Institutional Activity in Brown & Brown
BlackRock, Inc. grew its holdings in Brown & Brown by 145,802 shares, ending with 21,916,747 shares worth approximately $1.43 billion. Vanguard Capital Management LLC opened a new position with 18,921,240 shares valued at about $1.23 billion. Meanwhile, Capital World Investors reduced its stake by 1,392,473 shares, bringing its total to 16,493,922 shares valued at $1.08 billion. FMR LLC increased its holdings by 5,514,133 shares, ending with 16,050,696 shares worth around $1.05 billion. Principal Financial Group Inc added 246,172 shares, holding 15,608,720 shares valued at approximately $1.02 billion.
Brown & Brown, Inc. Stock Down 12.5%
Shares of Brown & Brown traded near $61.80 on Thursday. The company has a market capitalization of $19.74 billion and a P/E ratio of 18.97. Its forward P/E stands at 11.96, with a beta of 0.624, indicating lower volatility compared to the market. The stock's 52-week range has seen lows of $53.81 and highs of $111.10. It has a 50-day moving average of $60.35 and a 200-day moving average of $74.74. The company's current ratio is 1.017, with a quick ratio of 0.381 and a debt-to-equity ratio of 64.37.
$BRO stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Brown & Brown reported revenues of approximately $6.26 billion with a revenue growth rate of 35.7%. The company achieved an EPS of $3.07 and a net margin of 18.36%, with a return on equity of 11.93%. The next earnings report is expected on July 27, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
-
Forward outlook
6 target cuts vs 0 raises.
-
EPS & revenue
EPS beat estimates by 0.8%. Revenue missed estimates by 1.3%.
-
Profit surprise
EBITDA missed by 9 percent. Operating income missed by 4 percent.
-
Pre-earnings setup
Expectations were about average.
-
Analyst signal
1 upgrade, 6 target cuts.
-
Earnings quality
Gross margin up 1.6 points. Operating margin down 4.6 points. Positive free cash flow.
Earnings Call Summary
Brown & Brown delivered $1.9 billion in revenue with earnings per share of $1.39, beating expectations slightly despite missing on top-line. The first quarter was strong on margins at 38.5 percent and cash flow at $260 million, driven by large increases in contingent commissions of $54 million from strong underwriting performance. However, organic growth remained weak at only 2.2 percent including contingents and flat excluding them, hurt by property rates declining 15 to 35 percent and a shift in the pharmacy consulting business model. Management is integrating Accession, repositioning the Retail sales model for better specialization, and investing heavily in AI capabilities to improve customer experience and automate routine work, with early examples showing 25 percent of specialty submissions now processed by AI agents.
Guidance Management did not provide explicit full-year revenue or earnings guidance. They indicated organic growth should improve each quarter in 2026 compared to the first quarter, with back-half growth potentially reaching about 2.5 percent. Specialty Distribution is expected to be relatively flat in Q2 due to heavy property placements, then improve in the second half as the Accession business contributes.
Severe negative reset. The report materially damaged the forward outlook and likely forces major downward revisions.
Dividend
Brown & Brown offers an annual dividend rate of $0.65, yielding 1.09%, with a payout ratio of 20.52%.
Insider Buying and Selling at Brown & Brown, Inc.
Recent insider activity at Brown & Brown includes purchases by Joia Johnson, who bought 860 shares on June 9, 2026, at an average price of $58.05. Additionally, Kathleen Savio, Toni Jennings, Theodore Hoepner, Paul Krump, and Joia Johnson each acquired 2,434 shares on May 6, 2026. These transactions were not part of a pre-planned trading program.
Analysts Set New Price Targets
On June 9, 2026, UBS maintained its hold rating with a $65.00 price target. On May 21, 2026, Citizens initiated coverage with a buy rating and a $70.00 target, while Morgan Stanley maintained a hold rating at $60.00. Citigroup upgraded the stock to a buy with a $70.00 target on May 6, 2026. The consensus among 16 analysts is a hold rating with a mean price target of $71.50.
About Brown & Brown
Brown & Brown, Inc., based in Daytona Beach, Florida, markets and sells insurance products and services across the United States, the United Kingdom, and internationally. The company operates through its Retail and Specialty Distribution segments, offering a range of insurance and risk management solutions. Led by CEO J. Powell Brown, the company employs over 22,888 people.
Bottom Line
First Eagle Investment Management's new position in Brown & Brown highlights the company's attractiveness to institutional investors. With insider buying and varied analyst ratings, Brown & Brown remains a stock to watch. As always, remember that 13F filings are backward-looking and may not represent current holdings.
Get Brown & Brown, Inc. alerts
New 13F filings, insider trades, and analyst moves on $BRO, sent to your inbox. Free, and you can unsubscribe anytime.
This instant news alert was generated by automated narrative technology and financial data from Podchat and public regulatory filings. It is for informational purposes only and is not financial advice.