13 Undervalued Dividend Aristocrats to Buy Now

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

Forward P/E Ratio as of March 9: 15.62

Brown & Brown, Inc. (NYSE:BRO) markets and sells insurance products and services in the United States, the United Kingdom, and internationally.

On February 26, Morgan Stanley reduced its price target on Brown & Brown, Inc. (NYSE:BRO) from $78 to $76, while maintaining an ‘Equal Weight’ rating on the shares. The revised target, which still indicates an upside of 11% from the current share price, comes as the analyst firm adjusted its targets in the property and casualty insurance group following the Q4 earnings season.

Morgan Stanley expects insurance operators with ‘more differentiated’ underwriting performance to attract more investor attention in the market. While the analyst firm projects prices to remain weak and AI headwinds to not abate, it believes that insurers with ‘differentiated’ underwriting and ‘margin durability will be king’.

The share price of Brown & Brown, Inc. (NYSE:BRO) has declined by over 12% since the beginning of 2026. That said, BRO was recently included in our list of the 13 Best Income Stocks with the Highest Upside Potential.

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