10 Best Insurance Stocks for the Long Term

6. Brown & Brown, Inc. (NYSE:BRO)

Number of Hedge Fund Holders: 35

10-Year Revenue Growth Rate: 11.63%

Brown & Brown, Inc. (NYSE:BRO) is an insurance and risk management company that is headquartered in Florida. The company is among the largest insurance brokerage entities in the United States with over 500 locations and growing. The company has an immense focus on growth through mergers and acquisitions. So far, more than 500 agencies have joined BRO. Only recently, on December 23, 2024, the company’s subsidiary, Nexus Underwriting, entered into an agreement to acquire Arma Fusion Limited, a reinsurance company based in Dubai, UAE.

On January 10, analyst firm Jefferies raised its price target on Brown & Brown, Inc. (NYSE:BRO) from $104 to $107. The analyst firm is bullish on property and casualty insurance lines along with insure tech in 2025. The analyst firm also suggests that improving fundamentals and hard market conditions will continue to prevail, should tariffs be placed. BRO is also favorable among analysts on the Street, with their median price target implying an upside of 12% from current levels.

Overall, Brown & Brown, Inc. (NYSE:BRO) is in a strong position with a long-term potential to expand, evident from its recent acquisition and merger deals. 35 hedge funds were bullish on the stock at the close of Q3 2024.