Brokerages Set BRP Group, Inc. (NASDAQ:BRP) PT at $30.67

Shares of BRP Group, Inc. (NASDAQ:BRP) have received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $30.67.

Several research firms have issued reports on BRP. Keefe, Bruyette & Woods upped their price objective on shares of BRP Group from $30.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Raymond James raised BRP Group from an “outperform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a report on Tuesday, December 12th. Finally, Bank of America lowered their target price on BRP Group from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, February 29th.

Insider Transactions at BRP Group

In related news, Director Lowry Baldwin sold 62,629 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $28.94, for a total value of $1,812,483.26. Following the transaction, the director now directly owns 37,371 shares of the company’s stock, valued at approximately $1,081,516.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, General Counsel Seth Bala Cohen sold 1,033 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $29.04, for a total transaction of $29,998.32. Following the transaction, the general counsel now directly owns 10,657 shares of the company’s stock, valued at approximately $309,479.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lowry Baldwin sold 62,629 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $28.94, for a total transaction of $1,812,483.26. Following the completion of the transaction, the director now owns 37,371 shares of the company’s stock, valued at $1,081,516.74. The disclosure for this sale can be found here. Insiders own 22.65% of the company’s stock.

Institutional Investors Weigh In On BRP Group

A number of hedge funds have recently bought and sold shares of BRP. FMR LLC raised its stake in BRP Group by 51.2% during the third quarter. FMR LLC now owns 8,674,940 shares of the company’s stock worth $201,519,000 after acquiring an additional 2,938,558 shares during the period. Westwood Holdings Group Inc. raised its holdings in shares of BRP Group by 73.0% in the 4th quarter. Westwood Holdings Group Inc. now owns 3,015,270 shares of the company’s stock worth $72,427,000 after purchasing an additional 1,272,353 shares in the last quarter. Boston Partners acquired a new stake in shares of BRP Group during the 4th quarter valued at $30,586,000. Rockefeller Capital Management L.P. raised its holdings in shares of BRP Group by 226.1% during the first quarter. Rockefeller Capital Management L.P. now owns 975,466 shares of the company’s stock valued at $24,835,000 after acquiring an additional 676,337 shares during the period. Finally, Point72 Asset Management L.P. increased its position in BRP Group by 106.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,045,100 shares of the company’s stock worth $25,898,000 after purchasing an additional 538,472 shares during the last quarter. Institutional investors and hedge funds own 70.42% of the company’s stock.

BRP Group Stock Performance

BRP Group stock opened at $28.94 on Monday. BRP Group has a twelve month low of $17.33 and a twelve month high of $30.84. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $3.38 billion, a P/E ratio of -19.42, a PEG ratio of 0.82 and a beta of 1.54. The stock’s 50 day moving average is $26.90 and its 200 day moving average is $23.88.

BRP Group (NASDAQ:BRP) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. BRP Group had a negative net margin of 7.40% and a positive return on equity of 7.61%. The company had revenue of $284.65 million for the quarter, compared to analysts’ expectations of $282.00 million. On average, equities research analysts predict that BRP Group will post 1.07 earnings per share for the current fiscal year.

BRP Group Company Profile

BRP Group, Inc operates as an independent insurance distribution firm that delivers insurance and risk management solutions in the United States. It operates through three segments: Insurance Advisory Solutions; Underwriting, Capacity & Technology Solutions; and Mainstreet Insurance Solutions. The Insurance Advisory Solutions segment provides commercial risk management, employee benefits, and private risk management solutions for businesses and high-net-worth individuals, as well as their families.