BRP Group (NASDAQ:BRP) Price Target Raised to $34.00 at Keefe, Bruyette & Woods

BRP Group (NASDAQ:BRP - Get Free Report) had its price target boosted by analysts at Keefe, Bruyette & Woods from $33.00 to $34.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 20.61% from the company's previous close.

BRP has been the topic of a number of other research reports. Raymond James upgraded shares of BRP Group from an "outperform" rating to a "strong-buy" rating and set a $30.00 target price on the stock in a research note on Tuesday, December 12th. JPMorgan Chase & Co. raised shares of BRP Group from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $27.00 to $33.00 in a research report on Monday. Finally, Bank of America lowered their price objective on shares of BRP Group from $44.00 to $42.00 and set a "buy" rating for the company in a research report on Thursday, February 29th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $31.83.

BRP Group Stock Performance

Shares of BRP traded down $0.47 during mid-day trading on Wednesday, hitting $28.19. 380,429 shares of the company's stock were exchanged, compared to its average volume of 395,341. BRP Group has a fifty-two week low of $17.33 and a fifty-two week 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. The firm has a market capitalization of $3.29 billion, a P/E ratio of -18.65, a P/E/G ratio of 0.83 and a beta of 1.54. The business's 50 day moving average is $27.35 and its two-hundred day moving average is $23.98.

BRP Group (NASDAQ:BRP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $284.65 million during the quarter, compared to analysts' expectations of $282.00 million. BRP Group had a negative net margin of 7.40% and a positive return on equity of 7.61%. On average, equities analysts expect that BRP Group will post 1.07 earnings per share for the current year.

Insider Transactions at BRP Group

In related news, Director Lowry Baldwin sold 62,629 shares of the firm's stock in a transaction on 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 transaction, the director now directly owns 37,371 shares in the company, valued at approximately $1,081,516.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other BRP Group news, Director Lowry Baldwin sold 62,629 shares of the stock in a transaction on 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 completion of the sale, 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 legal filing with the SEC, which is available through the SEC website. Also, General Counsel Seth Bala Cohen sold 1,033 shares of the firm's stock in a transaction dated 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 $309,479.28. The disclosure for this sale can be found here. 22.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BRP. Parkside Financial Bank & Trust bought a new position in BRP Group in the fourth quarter valued at approximately $25,000. Resurgent Financial Advisors LLC acquired a new position in BRP Group during the fourth quarter worth $44,000. Captrust Financial Advisors increased its holdings in BRP Group by 2,262.6% during the second quarter. Captrust Financial Advisors now owns 2,717 shares of the company's stock worth $66,000 after buying an additional 2,602 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in BRP Group by 84.1% during the second quarter. Tower Research Capital LLC TRC now owns 2,754 shares of the company's stock worth $68,000 after buying an additional 1,258 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in BRP Group during the third quarter worth $64,000. Institutional investors and hedge funds own 70.42% of the company's stock.

About BRP Group

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.