BRP Group, Inc. (NASDAQ:BRP) Receives $30.67 Consensus PT from Brokerages

Shares of BRP Group, Inc. (NASDAQ:BRP) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $30.67.

A number of research analysts have issued reports on the company. Bank of America decreased their price target on BRP Group from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Keefe, Bruyette & Woods boosted their price target on BRP Group from $30.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Raymond James upgraded BRP Group from an “outperform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research note on Tuesday, December 12th.

Insider Buying and Selling

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

Institutional Trading of BRP Group

Several hedge funds have recently bought and sold shares of the stock. Amalgamated Bank grew its holdings in BRP Group by 4.8% during the fourth quarter. Amalgamated Bank now owns 10,111 shares of the company’s stock valued at $254,000 after purchasing an additional 464 shares during the period. US Bancorp DE increased its stake in BRP Group by 10.2% in the 4th quarter. US Bancorp DE now owns 5,777 shares of the company’s stock worth $139,000 after buying an additional 534 shares in the last quarter. Arizona State Retirement System lifted its position in shares of BRP Group by 4.1% in the third quarter. Arizona State Retirement System now owns 18,148 shares of the company’s stock valued at $422,000 after acquiring an additional 720 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of BRP Group by 1.2% in the fourth quarter. Legal & General Group Plc now owns 63,713 shares of the company’s stock worth $1,530,000 after acquiring an additional 774 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of BRP Group by 1.2% in the third quarter. California State Teachers Retirement System now owns 74,393 shares of the company’s stock worth $1,960,000 after acquiring an additional 892 shares during the period. Institutional investors own 70.42% of the company’s stock.

BRP Group Stock Up 1.4 %

Shares of NASDAQ:BRP opened at $28.77 on Monday. The stock has a fifty day simple moving average of $26.76 and a two-hundred day simple moving average of $23.82. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of -19.31, a PEG ratio of 0.81 and a beta of 1.54. BRP Group has a 12-month low of $17.33 and a 12-month high of $30.84. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.29.

BRP Group (NASDAQ:BRP) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $284.65 million during the quarter, compared to analysts’ expectations of $282.00 million. BRP Group had a positive return on equity of 7.61% and a negative net margin of 7.40%. On average, research analysts anticipate 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.