Clearbridge Investments LLC Purchases 28,612 Shares of BRP Group, Inc. (NASDAQ:BRP)

Clearbridge Investments LLC raised its position in shares of BRP Group, Inc. (NASDAQ:BRPGet Rating) by 6.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 484,304 shares of the company’s stock after acquiring an additional 28,612 shares during the period. Clearbridge Investments LLC owned approximately 0.42% of BRP Group worth $11,696,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Deutsche Bank AG boosted its stake in shares of BRP Group by 6.8% in the second quarter. Deutsche Bank AG now owns 32,273 shares of the company’s stock valued at $779,000 after buying an additional 2,044 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of BRP Group by 83.4% in the second quarter. JPMorgan Chase & Co. now owns 70,179 shares of the company’s stock valued at $1,694,000 after buying an additional 31,908 shares during the period. HHM Wealth Advisors LLC boosted its stake in shares of BRP Group by 193.0% in the second quarter. HHM Wealth Advisors LLC now owns 6,270 shares of the company’s stock valued at $151,000 after buying an additional 4,130 shares during the period. Walleye Capital LLC bought a new stake in shares of BRP Group in the second quarter valued at approximately $343,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of BRP Group in the second quarter valued at approximately $213,000. Institutional investors own 49.20% of the company’s stock.

BRP Group Stock Up 2.4 %

Shares of NASDAQ:BRP opened at $29.43 on Friday. The company has a fifty day moving average of $27.63 and a 200-day moving average of $27.59. The company has a market capitalization of $3.41 billion, a PE ratio of -94.93, a price-to-earnings-growth ratio of 1.55 and a beta of 1.52. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.24 and a current ratio of 1.24. BRP Group, Inc. has a 52-week low of $17.08 and a 52-week high of $38.99.

BRP Group (NASDAQ:BRPGet Rating) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The company had revenue of $259.37 million during the quarter, compared to the consensus estimate of $229.79 million. BRP Group had a negative net margin of 1.78% and a positive return on equity of 6.70%. On average, equities analysts predict that BRP Group, Inc. will post 0.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company cut their price target on BRP Group from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Tuesday, November 8th. Raymond James upped their target price on BRP Group from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, August 11th. Morgan Stanley cut their target price on BRP Group from $36.00 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut BRP Group from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $31.00 to $30.00 in a research note on Monday, October 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $45.88.

Insider Transactions at BRP Group

In related news, Chairman Lowry Baldwin acquired 172,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The stock was acquired at an average cost of $28.87 per share, for a total transaction of $4,965,640.00. Following the completion of the acquisition, the chairman now directly owns 172,000 shares of the company’s stock, valued at approximately $4,965,640. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, General Counsel Seth Bala Cohen sold 3,463 shares of the stock in a transaction on Monday, November 21st. The stock was sold at an average price of $28.25, for a total value of $97,829.75. Following the completion of the sale, the general counsel now directly owns 9,282 shares in the company, valued at $262,216.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Lowry Baldwin acquired 172,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The stock was bought at an average price of $28.87 per share, with a total value of $4,965,640.00. Following the completion of the acquisition, the chairman now directly owns 172,000 shares of the company’s stock, valued at $4,965,640. The disclosure for this purchase can be found here. Company insiders own 23.36% of the company’s stock.

BRP Group Profile

(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.

Recommended Stories

Want to see what other hedge funds are holding BRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BRP Group, Inc. (NASDAQ:BRPGet Rating).

Institutional Ownership by Quarter for BRP Group (NASDAQ:BRP)

Receive News & Ratings for BRP Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BRP Group and related companies with MarketBeat.com's FREE daily email newsletter.