BRP Group, Inc. (NYSE:BRP) Given Consensus Rating of “Buy” by Brokerages

BRP Group, Inc. (NYSE:BRPGet Rating) has earned an average recommendation of “Buy” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $34.14.

A number of brokerages recently issued reports on BRP. UBS Group began coverage on shares of BRP Group in a report on Monday, April 18th. They set a “buy” rating and a $30.00 price objective for the company. TheStreet cut shares of BRP Group from a “c-” rating to a “d+” rating in a report on Wednesday, January 19th. JPMorgan Chase & Co. decreased their price objective on shares of BRP Group from $42.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, March 2nd. Zacks Investment Research upgraded shares of BRP Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Finally, Wells Fargo & Company reduced their price target on shares of BRP Group from $44.00 to $39.00 and set an “overweight” rating for the company in a report on Wednesday, March 2nd.

Shares of BRP traded down $1.27 on Tuesday, reaching $22.59. 11,351 shares of the company’s stock were exchanged, compared to its average volume of 454,480. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $2.60 billion, a P/E ratio of 113.80 and a beta of 1.53. The business has a 50 day moving average price of $25.38 and a two-hundred day moving average price of $30.85. BRP Group has a 12 month low of $21.92 and a 12 month high of $45.36.

BRP Group (NYSE:BRPGet Rating) last issued its quarterly earnings data on Tuesday, March 1st. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The firm had revenue of $159.20 million for the quarter, compared to analyst estimates of $139.13 million. BRP Group had a negative net margin of 6.75% and a positive return on equity of 6.96%. Equities research analysts predict that BRP Group will post 0.38 EPS for the current year.

In other BRP Group news, insider John A. Valentine bought 5,000 shares of BRP Group stock in a transaction that occurred on Monday, March 14th. The stock was acquired at an average price of $24.68 per share, for a total transaction of $123,400.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kristopher Aaron Wiebeck bought 10,000 shares of BRP Group stock in a transaction that occurred on Friday, March 11th. The shares were acquired at an average price of $24.87 per share, with a total value of $248,700.00. The disclosure for this purchase can be found here. Insiders have purchased 29,617 shares of company stock valued at $744,828 in the last 90 days. 35.93% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James & Associates raised its position in BRP Group by 4.3% during the fourth quarter. Raymond James & Associates now owns 9,904 shares of the company’s stock worth $358,000 after acquiring an additional 406 shares in the last quarter. LPL Financial LLC raised its position in shares of BRP Group by 2.4% in the third quarter. LPL Financial LLC now owns 18,207 shares of the company’s stock valued at $606,000 after purchasing an additional 422 shares during the period. Voya Investment Management LLC raised its position in shares of BRP Group by 2.8% in the third quarter. Voya Investment Management LLC now owns 17,922 shares of the company’s stock valued at $597,000 after purchasing an additional 494 shares during the period. Arizona State Retirement System raised its position in shares of BRP Group by 3.7% in the first quarter. Arizona State Retirement System now owns 15,390 shares of the company’s stock valued at $413,000 after purchasing an additional 547 shares during the period. Finally, M&T Bank Corp raised its position in shares of BRP Group by 7.6% in the first quarter. M&T Bank Corp now owns 8,283 shares of the company’s stock valued at $223,000 after purchasing an additional 588 shares during the period. 84.84% of the stock is currently owned by hedge funds and other institutional investors.

About BRP Group (Get Rating)

BRP Group, Inc markets and sells insurance products and services in the United States. The company operates through four segments: Middle Market, Specialty, MainStreet, and Medicare. The Middle Market segment provides commercial risk management, employee benefits solutions, and private risk management for mid-to-large size businesses and high net worth individuals, as well as its families.

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Analyst Recommendations for BRP Group (NYSE:BRP)

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