State of New Jersey Common Pension Fund D Increases Holdings in BRP Group, Inc. (NASDAQ:BRP)

State of New Jersey Common Pension Fund D boosted its holdings in BRP Group, Inc. (NASDAQ:BRP - Free Report) by 49.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 141,145 shares of the company's stock after acquiring an additional 46,545 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.12% of BRP Group worth $3,390,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BRP. FMR LLC boosted its holdings in shares of BRP Group by 51.2% in the 3rd quarter. FMR LLC now owns 8,674,940 shares of the company's stock worth $201,519,000 after purchasing an additional 2,938,558 shares in the last quarter. Peregrine Capital Management LLC boosted its holdings in shares of BRP Group by 56.2% in the 4th quarter. Peregrine Capital Management LLC now owns 916,920 shares of the company's stock worth $22,024,000 after purchasing an additional 329,998 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of BRP Group by 27.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,133,781 shares of the company's stock worth $26,338,000 after purchasing an additional 241,051 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of BRP Group in the 3rd quarter worth about $5,135,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of BRP Group by 209.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 206,391 shares of the company's stock worth $4,794,000 after purchasing an additional 139,684 shares in the last quarter. 70.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BRP. Wells Fargo & Company cut their price objective on BRP Group from $29.00 to $28.00 and set an "equal weight" rating for the company in a report on Thursday, April 11th. Keefe, Bruyette & Woods increased their target price on BRP Group from $33.00 to $34.00 and gave the company an "outperform" rating in a report on Wednesday, April 10th. Bank of America dropped their target price on BRP Group from $44.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. upgraded BRP Group from a "neutral" rating to an "overweight" rating and increased their target price for the company from $27.00 to $33.00 in a report on Monday, April 8th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, BRP Group has a consensus rating of "Buy" and an average target price of $33.40.

Insider Buying and Selling at BRP Group

In other BRP Group 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 transaction of $1,812,483.26. Following the sale, the director now directly owns 37,371 shares in the company, valued at approximately $1,081,516.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other BRP Group 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 transaction of $1,812,483.26. Following the sale, the director now directly owns 37,371 shares in the company, valued at approximately $1,081,516.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Seth Bala Cohen sold 1,033 shares of the firm's 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 transaction, the general counsel now owns 10,657 shares in the company, valued at $309,479.28. The disclosure for this sale can be found here. Company insiders own 22.65% of the company's stock.

BRP Group Stock Up 0.2 %

Shares of NASDAQ:BRP traded up $0.05 during trading on Friday, hitting $26.70. The stock had a trading volume of 173,504 shares, compared to its average volume of 248,573. BRP Group, Inc. has a 12 month low of $17.33 and a 12 month high of $30.84. The company has a market capitalization of $3.12 billion, a PE ratio of -17.92, a PEG ratio of 0.80 and a beta of 1.54. The firm's fifty day moving average is $28.22 and its 200 day moving average is $24.33. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.29.

BRP Group (NASDAQ:BRP - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. BRP Group had a positive return on equity of 7.61% and a negative net margin of 7.40%. The firm had revenue of $284.65 million during the quarter, compared to analyst estimates of $282.00 million. Analysts anticipate that BRP Group, Inc. will post 1.05 EPS for the current fiscal year.

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.