BRP Group, Inc. (NASDAQ:BRP - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $27.96, but opened at $29.36. BRP Group shares last traded at $28.55, with a volume of 29,259 shares.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the stock. Bank of America dropped 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 note on Thursday, February 29th. Keefe, Bruyette & Woods lifted their price objective on shares of BRP Group from $30.00 to $33.00 and gave the stock an "outperform" rating in a research note on Thursday, February 29th. Raymond James raised 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 report on Tuesday, December 12th. Finally, JPMorgan Chase & Co. raised shares of BRP Group from a "neutral" rating to an "overweight" rating and raised their target price for the company from $27.00 to $33.00 in a report on Monday. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.67.
Check Out Our Latest Stock Analysis on BRP Group
BRP Group Stock Performance
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 firm's fifty day simple moving average is $27.17 and its 200 day simple moving average is $23.92.
BRP Group (NASDAQ:BRP - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $282.00 million. BRP Group had a negative net margin of 7.40% and a positive return on equity of 7.61%. Equities research analysts forecast that BRP Group, Inc. will post 1.07 earnings per share for the current fiscal year.
Insider Activity at BRP Group
In related news, Director Lowry Baldwin sold 62,629 shares of BRP Group stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available at the SEC website. In other BRP Group 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 shares were sold at an average price of $29.04, for a total transaction of $29,998.32. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lowry Baldwin sold 62,629 shares of the business's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $28.94, for a total transaction of $1,812,483.26. Following the sale, the director now directly owns 37,371 shares in the company, valued at $1,081,516.74. The disclosure for this sale can be found here. 22.65% of the stock is currently owned by insiders.
Institutional Investors Weigh In On BRP Group
A number of institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust acquired a new position in shares of BRP Group in the 4th quarter worth approximately $25,000. Resurgent Financial Advisors LLC acquired a new position in shares of BRP Group in the 4th quarter worth approximately $44,000. Quantbot Technologies LP acquired a new position in shares of BRP Group in the 3rd quarter worth approximately $64,000. Captrust Financial Advisors lifted its position in shares of BRP Group by 2,262.6% in the 2nd quarter. Captrust Financial Advisors now owns 2,717 shares of the company's stock worth $66,000 after purchasing an additional 2,602 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of BRP Group by 84.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,754 shares of the company's stock worth $68,000 after purchasing an additional 1,258 shares during the period. 70.42% of the stock is owned by institutional investors.
About BRP Group
(
Get Free Report)
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.
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