BRP Group (NASDAQ:BRP) Upgraded to "Overweight" by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of BRP Group (NASDAQ:BRP - Free Report) from a neutral rating to an overweight rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm currently has $33.00 price objective on the stock, up from their previous price objective of $27.00.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods increased their target price on shares of BRP Group from $30.00 to $33.00 and gave the company an outperform rating in a report on Thursday, February 29th. Bank of America dropped their target price on shares of BRP Group from $44.00 to $42.00 and set a buy rating for the company in a report on Thursday, February 29th. Finally, Raymond James raised shares of BRP Group from an outperform rating to a strong-buy rating and set a $30.00 target price for the company in a report on Tuesday, December 12th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $31.67.

BRP Group Stock Performance

NASDAQ:BRP traded up $1.07 during mid-day trading on Monday, reaching $29.03. The stock had a trading volume of 297,793 shares, compared to its average volume of 397,121. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -19.48, a PEG ratio of 0.80 and a beta of 1.54. BRP Group has a twelve month low of $17.33 and a twelve month high of $30.84. The business has a 50 day simple moving average of $27.25 and a 200 day simple moving average of $23.95.

BRP Group (NASDAQ:BRP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.01 EPS for the quarter, meeting analysts' consensus estimates of $0.01. The firm had revenue of $284.65 million during the quarter, compared to the consensus estimate 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, analysts expect that BRP Group will post 1.07 earnings per share for the current fiscal year.

Insider Transactions at BRP Group

In other news, Director Lowry Baldwin sold 62,629 shares of the firm's 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 completion of 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 SEC, which is available at the SEC website. In other BRP Group 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Seth Bala Cohen sold 1,033 shares of BRP Group 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 completion of the sale, 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. Corporate insiders own 22.65% of the company's stock.

Hedge Funds Weigh In On BRP Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust acquired a new position in shares of BRP Group during the 4th quarter valued at $25,000. Resurgent Financial Advisors LLC acquired a new position in BRP Group in the 4th quarter worth $44,000. Quantbot Technologies LP acquired a new position in BRP Group in the 3rd quarter worth $64,000. Captrust Financial Advisors lifted its holdings in 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 buying an additional 2,602 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in 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 buying an additional 1,258 shares in the last quarter. Institutional investors and hedge funds own 70.42% of the company's stock.

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.