State Board of Administration of Florida Retirement System Acquires 1,040 Shares of BRP Group, Inc. (NASDAQ:BRP)

State Board of Administration of Florida Retirement System grew its position in shares of BRP Group, Inc. (NASDAQ:BRP – Get Rating) by 11.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,869 shares of the company’s stock after buying an additional 1,040 shares during the period. State Board of Administration of Florida Retirement System’s holdings in BRP Group were worth $248,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BRP. Vanguard Group Inc. increased its holdings in BRP Group by 3.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,352,308 shares of the company’s stock worth $141,033,000 after purchasing an additional 184,814 shares in the last quarter. CI Investments Inc. increased its position in shares of BRP Group by 32.3% during the third quarter. CI Investments Inc. now owns 694,730 shares of the company’s stock valued at $18,306,000 after acquiring an additional 169,600 shares during the last quarter. Jane Street Group LLC purchased a new stake in BRP Group in the first quarter worth $4,504,000. Dimensional Fund Advisors LP increased its position in BRP Group by 50.6% in the third quarter. Dimensional Fund Advisors LP now owns 339,402 shares of the company’s stock worth $8,943,000 after buying an additional 114,083 shares during the last quarter. Finally, State Street Corp increased its position in BRP Group by 9.9% in the second quarter. State Street Corp now owns 1,048,282 shares of the company’s stock worth $25,316,000 after buying an additional 94,765 shares during the last quarter. Institutional investors own 47.90% of the company’s stock.

Insider Buying and Selling at BRP Group

In related news, General Counsel Seth Bala Cohen sold 2,000 shares of BRP Group stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $22.47, for a total value of $44,940.00. Following the completion of the transaction, the general counsel now owns 21,982 shares in the company, valued at $493,935.54. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 23.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jefferies Financial Group decreased their target price on BRP Group from $29.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, April 10th. Wells Fargo & Company reduced their price target on BRP Group from $36.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, April 5th. Raymond James reduced their target price on BRP Group from $34.00 to $30.00 in a research report on Monday, May 15th. Finally, William Blair cut BRP Group from an “outperform” rating to a “market perform” rating in a research report on Friday, March 3rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $50.83.

BRP Group Trading Up 1.0 %

BRP opened at $22.04 on Monday. The business has a 50 day simple moving average of $24.22 and a two-hundred day simple moving average of $26.88. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of -16.09, a PEG ratio of 1.19 and a beta of 1.52. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.01 and a quick ratio of 1.01. BRP Group, Inc. has a one year low of $20.73 and a one year high of $33.34.

BRP Group (NASDAQ:BRP – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.21). BRP Group had a negative net margin of 7.37% and a positive return on equity of 5.09%. The business had revenue of $246.04 million for the quarter, compared to the consensus estimate of $236.16 million. Analysts predict that BRP Group, Inc. will post 0.76 EPS for the current year.

BRP Group Profile

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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.