Insurance brokerage stocks are often viewed as defensive, cash-generative businesses, but the current market has tested that assumption. A softening property and casualty (P&C) pricing cycle, moderating organic growth, and debate over how artificial intelligence may reshape distribution have weighed on the group. This stock comparison examines AJG, BRO, and MRSH across business model, relative performance, and market positioning. Investors and traders evaluating defensive growth names, dividend payers, or sector rotation will find these three direct competitors a useful lens on where value and momentum may be emerging.
Arthur J. Gallagher & Co. (AJG) is a global insurance brokerage, risk management, and consulting firm. Its most distinctive feature is a dual-engine model: a traditional brokerage arm alongside Gallagher Bassett, its claims-management and risk-management business. In recent market activity, that mix has stood out, as Gallagher Bassett has reported notably faster organic growth than the core brokerage, providing a buffer as insurance pricing growth cools.
Recent quarters showed solid revenue expansion, partly driven by mergers and acquisitions (M&A), including the integration of the large AssuredPartners deal. However, shares have declined meaningfully over the trailing year, and analysts have cited integration costs and a lack of a near-term organic growth catalyst as headwinds. Valuation remains above the broader insurance sector, leaving AJG exposed to multiple compression if sentiment toward brokers softens further.
Brown & Brown, Inc. (BRO) is a diversified insurance brokerage known for its disciplined, acquisition-led growth strategy and consistently strong adjusted margins. Recent financial results reflected this profile: reported revenue rose substantially, boosted by deals such as the Accession acquisition, while adjusted earnings per share (EPS) grew at a high-single-digit pace and adjusted margins remained among the best in the group.
The trade-off has been organic growth. In recent reporting periods, BRO posted negative or low single-digit organic revenue growth, a signal that its internal momentum has been softer than its headline figures suggest. The company has also taken on additional leverage to fund acquisitions. Analysts have issued a mix of constructive initiations and cautious revisions, reflecting the tension between BRO's operational quality and its softer near-term growth and balance-sheet profile.
Marsh & McLennan Companies, Inc. (MRSH) is the largest and most globally diversified of the three. It operates through Marsh and Guy Carpenter in risk and insurance services, alongside Mercer and Oliver Wyman in consulting, with roughly half its revenue generated outside the United States. This breadth gives it exposure to economic and geopolitical trends beyond the U.S. P&C cycle.
Recent results have been broadly resilient: revenue and adjusted EPS grew at a mid-to-high single-digit pace, supported by consulting strength and continued investment in digital tools and the "Thrive" efficiency program. One-time litigation charges have weighed on reported profitability in some periods, however. Sentiment has been mixed, with analysts trimming price targets on softer pricing assumptions even as some firms reiterated constructive ratings. The shares trade on a lower forward price-to-earnings (P/E) multiple than historical norms, reflecting the sector's valuation reset.
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Although all three are insurance brokers, their business models create meaningful contrasts. MRSH is the most diversified and global, pairing insurance and reinsurance broking with consulting, which can smooth the P&C pricing cycle but also exposes it to discretionary spending trends. AJG offers a middle path, with its high-growth risk-management segment offsetting softer brokerage pricing. BRO is the most U.S.-centric and margin-focused, leaning on acquisitions for growth rather than broad diversification.
On valuation, AJG and BRO have historically commanded premium earnings multiples, while MRSH trades at a relatively lower forward P/E despite its scale and free cash flow. Risk factors also differ: BRO carries elevated acquisition-related leverage, AJG faces integration execution risk, and MRSH contends with litigation costs and global macro exposure. Relative performance has been broadly negative for all three over the trailing year, with no clear momentum leader emerging.
Based on observable factors such as trend consistency, business diversification, and catalyst balance, Tickeron's AI would likely favor MRSH at present. Its global scale, recurring advisory revenue, relatively lower forward valuation, and resilient adjusted earnings growth offer a more balanced risk-reward profile amid a softening P&C cycle. AJG presents a plausible second choice given its growing risk-management engine, though integration costs and a richer multiple introduce near-term uncertainty. BRO's margin quality is compelling, but weaker organic growth and higher leverage may weigh on its relative positioning. This assessment reflects probabilistic, model-driven analysis rather than a definitive prediction.
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The RSI Oscillator for AJG moved out of oversold territory on September 25, 2026. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 26 similar instances when the indicator left oversold territory. In 19 of the 26 cases the stock moved higher. This puts the odds of a move higher at 73%.
The Momentum Indicator moved above the 0 level on October 08, 2026. You may want to consider a long position or call options on AJG as a result. In 58 of 85 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 68%.
The Moving Average Convergence Divergence (MACD) for AJG just turned positive on October 08, 2026. Looking at past instances where AJG's MACD turned positive, the stock continued to rise in 25 of 46 cases over the following month. The odds of a continued upward trend are 54%.
Following a +1.65% 3-day Advance, the price is estimated to grow further. Considering data from situations where AJG advanced for three days, in 213 of 375 cases, the price rose further within the following month. The odds of a continued upward trend are 57%.
AJG may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
AJG moved below its 50-day moving average on September 08, 2026 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for AJG crossed bearishly below the 50-day moving average on September 15, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 9 of 18 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 50%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where AJG declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 49%.
The Aroon Indicator for AJG entered a downward trend on October 13, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Seasonality Score of 50 (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is 59 (best 1 - 100 worst), indicating steady price growth. AJG’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 60 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 63 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 89, placing this stock slightly better than average.
The Tickeron SMR rating for this company is 80 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of 91 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.480) is normal, around the industry mean (6.334). P/E Ratio (38.053) is within average values for comparable stocks, (32.709). Projected Growth (PEG Ratio) (0.679) is also within normal values, averaging (8.322). Dividend Yield (0.012) settles around the average of (0.010) among similar stocks. P/S Ratio (4.021) is also within normal values, averaging (2.968).
The RSI Indicator for BRO moved out of oversold territory on October 05, 2026. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 30 similar instances when the indicator left oversold territory. In 20 of the 30 cases the stock moved higher. This puts the odds of a move higher at 67%.
The Momentum Indicator moved above the 0 level on October 07, 2026. You may want to consider a long position or call options on BRO as a result. In 49 of 80 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 61%.
The Moving Average Convergence Divergence (MACD) for BRO just turned positive on October 07, 2026. Looking at past instances where BRO's MACD turned positive, the stock continued to rise in 21 of 43 cases over the following month. The odds of a continued upward trend are 49%.
Following a +1.86% 3-day Advance, the price is estimated to grow further. Considering data from situations where BRO advanced for three days, in 175 of 328 cases, the price rose further within the following month. The odds of a continued upward trend are 53%.
BRO may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
BRO moved below its 50-day moving average on September 08, 2026 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for BRO crossed bearishly below the 50-day moving average on September 11, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 7 of 14 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 50%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BRO declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 55%.
The Aroon Indicator for BRO entered a downward trend on October 08, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Price Growth Rating for this company is 61 (best 1 - 100 worst), indicating steady price growth. BRO’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is 71 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is 74 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of 77 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.602) is normal, around the industry mean (6.334). P/E Ratio (19.246) is within average values for comparable stocks, (32.709). Projected Growth (PEG Ratio) (0.910) is also within normal values, averaging (8.322). Dividend Yield (0.011) settles around the average of (0.010) among similar stocks. P/S Ratio (3.322) is also within normal values, averaging (2.968).
The Tickeron Profit vs. Risk Rating rating for this company is 90 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. BRO’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 89, placing this stock worse than average.
The RSI Indicator for MRSH moved out of oversold territory on September 29, 2026. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 28 similar instances when the indicator left oversold territory. In 20 of the 28 cases the stock moved higher. This puts the odds of a move higher at 71%.
The Momentum Indicator moved above the 0 level on October 06, 2026. You may want to consider a long position or call options on MRSH as a result. In 46 of 87 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 53%.
The Moving Average Convergence Divergence (MACD) for MRSH just turned positive on October 02, 2026. Looking at past instances where MRSH's MACD turned positive, the stock continued to rise in 27 of 51 cases over the following month. The odds of a continued upward trend are 53%.
Following a +0.71% 3-day Advance, the price is estimated to grow further. Considering data from situations where MRSH advanced for three days, in 161 of 341 cases, the price rose further within the following month. The odds of a continued upward trend are 47%.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 4 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
MRSH moved below its 50-day moving average on September 08, 2026 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for MRSH crossed bearishly below the 50-day moving average on September 11, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 13 of 21 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 62%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MRSH declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 43%.
MRSH broke above its upper Bollinger Band on October 08, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for MRSH entered a downward trend on October 08, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron SMR rating for this company is 37 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is 47 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Seasonality Score of 50 (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is 55 (best 1 - 100 worst), indicating steady price growth. MRSH’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 81 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. MRSH’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 89, placing this stock better than average.
The Tickeron Valuation Rating of 82 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.313) is normal, around the industry mean (6.334). P/E Ratio (20.639) is within average values for comparable stocks, (32.709). Projected Growth (PEG Ratio) (1.486) is also within normal values, averaging (8.322). Dividend Yield (0.022) settles around the average of (0.010) among similar stocks. P/S Ratio (3.089) is also within normal values, averaging (2.968).
AJG | BRO | MRSH | ||
|---|---|---|---|---|
OUTLOOK RATING 1..100 | 10 | 16 | 34 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 91 Overvalued | 77 Overvalued | 82 Overvalued | |
PROFIT vs RISK RATING 1..100 | 63 | 90 | 81 | |
SMR RATING 1..100 | 80 | 71 | 37 | |
PRICE GROWTH RATING 1..100 | 59 | 61 | 55 | |
P/E GROWTH RATING 1..100 | 60 | 74 | 47 | |
SEASONALITY SCORE 1..100 | 50 | 75 | 50 |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
BRO's Valuation (77) in the Insurance Brokers Or Services industry is in the same range as MRSH (82) in the null industry, and is in the same range as AJG (91) in the Insurance Brokers Or Services industry. This means that BRO's stock grew similarly to MRSH’s and similarly to AJG’s over the last 12 months.
AJG's Profit vs Risk Rating (63) in the Insurance Brokers Or Services industry is in the same range as MRSH (81) in the null industry, and is in the same range as BRO (90) in the Insurance Brokers Or Services industry. This means that AJG's stock grew similarly to MRSH’s and similarly to BRO’s over the last 12 months.
MRSH's SMR Rating (37) in the null industry is somewhat better than the same rating for BRO (71) in the Insurance Brokers Or Services industry, and is somewhat better than the same rating for AJG (80) in the Insurance Brokers Or Services industry. This means that MRSH's stock grew somewhat faster than BRO’s and somewhat faster than AJG’s over the last 12 months.
MRSH's Price Growth Rating (55) in the null industry is in the same range as AJG (59) in the Insurance Brokers Or Services industry, and is in the same range as BRO (61) in the Insurance Brokers Or Services industry. This means that MRSH's stock grew similarly to AJG’s and similarly to BRO’s over the last 12 months.
MRSH's P/E Growth Rating (47) in the null industry is in the same range as AJG (60) in the Insurance Brokers Or Services industry, and is in the same range as BRO (74) in the Insurance Brokers Or Services industry. This means that MRSH's stock grew similarly to AJG’s and similarly to BRO’s over the last 12 months.
| AJG | BRO | MRSH | |
|---|---|---|---|
| RSI ODDS (%) | 2 days ago 73% | 2 days ago 67% | 2 days ago 71% |
| Stochastic ODDS (%) | 2 days ago 54% | 2 days ago 50% | 2 days ago 52% |
| Momentum ODDS (%) | 2 days ago 68% | 2 days ago 61% | 2 days ago 53% |
| MACD ODDS (%) | 2 days ago 54% | 2 days ago 49% | 2 days ago 53% |
| TrendWeek ODDS (%) | 2 days ago 56% | 2 days ago 56% | 2 days ago 48% |
| TrendMonth ODDS (%) | 2 days ago 48% | 2 days ago 58% | 2 days ago 44% |
| Advances ODDS (%) | 9 days ago 57% | 2 days ago 53% | 2 days ago 47% |
| Declines ODDS (%) | 16 days ago 49% | 21 days ago 55% | 23 days ago 43% |
| BollingerBands ODDS (%) | 7 days ago 59% | 7 days ago 42% | 2 days ago 48% |
| Aroon ODDS (%) | 2 days ago 43% | 2 days ago 60% | 2 days ago 41% |
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is overvalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
AJG’s FA Score shows that 0 FA rating(s) are green while BRO’s FA Score has 0 green FA rating(s), and MRSH’s FA Score reflects 0 green FA rating(s).
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
AJG’s TA Score shows that 5 TA indicator(s) are bullish while BRO’s TA Score has 5 bullish TA indicator(s), and MRSH’s TA Score reflects 4 bullish TA indicator(s).
AJG (@Insurance Brokers/Services) experienced а +1.33% price change this week, while BRO (@Insurance Brokers/Services) price change was +5.05% , and MRSH (@Insurance Brokers/Services) price fluctuated +3.07% for the same time period.
The average weekly price growth across all stocks in the @Insurance Brokers/Services industry was -4.00%. For the same industry, the average monthly price growth was -14.20%, and the average quarterly price growth was -3.02%.
AJG is expected to report earnings on Oct 22, 2026.
BRO is expected to report earnings on Oct 26, 2026.
MRSH is expected to report earnings on Oct 15, 2026.
Insurance brokers sell, solicit, or negotiate insurance for compensation. General insurance brokers mostly cater to insurances on car, house etc. (versus life). Brokers are also often instrumental in helping small employers find health insurance, particularly in more competitive markets. Additionally, brokers may also provide risk assessments, insurance consulting services, insurance-related regulatory and legislative update services. Some of the major names in this industry include Marsh & McLennan Companies, Inc., Aon plc and Verisk Analytics Inc.
A.I.dvisor indicates that over the last year, AJG has been closely correlated with BRO. These tickers have moved in lockstep 83% of the time. This A.I.-generated data suggests there is a high statistical probability that if AJG jumps, then BRO could also see price increases.
| Ticker / NAME | Correlation To AJG | 1D Price Change % | ||
|---|---|---|---|---|
| AJG | 100% | -0.44% | ||
| BRO - AJG | 83% Closely correlated | +0.63% | ||
| MRSH - AJG | 79% Closely correlated | +0.27% | ||
| AON - AJG | 73% Closely correlated | -0.03% | ||
| WTW - AJG | 71% Closely correlated | -0.46% | ||
| ERIE - AJG | 59% Loosely correlated | +2.57% | ||
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A.I.dvisor indicates that over the last year, BRO has been closely correlated with AJG. These tickers have moved in lockstep 83% of the time. This A.I.-generated data suggests there is a high statistical probability that if BRO jumps, then AJG could also see price increases.
| Ticker / NAME | Correlation To BRO | 1D Price Change % | ||
|---|---|---|---|---|
| BRO | 100% | +0.63% | ||
| AJG - BRO | 83% Closely correlated | -0.44% | ||
| MRSH - BRO | 80% Closely correlated | +0.27% | ||
| RYAN - BRO | 67% Closely correlated | +1.61% | ||
| WTW - BRO | 64% Loosely correlated | -0.46% | ||
| GSHD - BRO | 63% Loosely correlated | +1.09% | ||
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A.I.dvisor indicates that over the last year, MRSH has been closely correlated with BRO. These tickers have moved in lockstep 80% of the time. This A.I.-generated data suggests there is a high statistical probability that if MRSH jumps, then BRO could also see price increases.
| Ticker / NAME | Correlation To MRSH | 1D Price Change % | ||
|---|---|---|---|---|
| MRSH | 100% | +0.27% | ||
| BRO - MRSH | 80% Closely correlated | +0.63% | ||
| AJG - MRSH | 79% Closely correlated | -0.44% | ||
| AON - MRSH | 77% Closely correlated | -0.03% | ||
| WTW - MRSH | 65% Loosely correlated | -0.46% | ||
| RYAN - MRSH | 58% Loosely correlated | +1.61% | ||
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