Truist Financial Corp Takes Position in BRP Group, Inc. (NASDAQ:BRP)

Truist Financial Corp purchased a new position in shares of BRP Group, Inc. (NASDAQ:BRP) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 10,167 shares of the company’s stock, valued at approximately $259,000.

Several other large investors also recently modified their holdings of the stock. MetLife Investment Management LLC boosted its holdings in BRP Group by 53.1% in the 1st quarter. MetLife Investment Management LLC now owns 24,608 shares of the company’s stock valued at $660,000 after purchasing an additional 8,536 shares during the period. Rhumbline Advisers increased its position in shares of BRP Group by 8.9% in the first quarter. Rhumbline Advisers now owns 47,270 shares of the company’s stock valued at $1,268,000 after acquiring an additional 3,847 shares during the period. Sei Investments Co. increased its position in shares of BRP Group by 31.0% in the first quarter. Sei Investments Co. now owns 267,327 shares of the company’s stock valued at $7,173,000 after acquiring an additional 63,285 shares during the period. Ergoteles LLC purchased a new position in shares of BRP Group in the first quarter valued at about $1,882,000. Finally, Clearbridge Investments LLC increased its position in shares of BRP Group by 1.0% during the first quarter. Clearbridge Investments LLC now owns 455,692 shares of the company’s stock valued at $12,226,000 after buying an additional 4,435 shares during the period. Hedge funds and other institutional investors own 48.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of BRP Group from $32.00 to $28.00 in a research note on Thursday, July 6th. Raymond James reduced their price objective on shares of BRP Group from $34.00 to $30.00 in a research note on Monday, May 15th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BRP Group currently has a consensus rating of “Hold” and a consensus target price of $30.20.

BRP Group Trading Down 1.0 %

Shares of NASDAQ:BRP opened at $25.32 on Monday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a fifty day moving average price of $24.66 and a 200 day moving average price of $24.75. BRP Group, Inc. has a fifty-two week low of $19.26 and a fifty-two week high of $33.34.

Insider Buying and Selling

In other news, insider Kristopher Aaron Wiebeck sold 55,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $25.11, for a total transaction of $1,381,050.00. Following the sale, the insider now directly owns 20,035 shares in the company, valued at approximately $503,078.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Trevor Baldwin sold 238,147 shares of BRP Group stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $25.35, for a total value of $6,037,026.45. Following the completion of the transaction, the chief executive officer now owns 32,864 shares in the company, valued at approximately $833,102.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kristopher Aaron Wiebeck sold 55,000 shares of BRP Group stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $25.11, for a total value of $1,381,050.00. Following the completion of the transaction, the insider now owns 20,035 shares of the company’s stock, valued at approximately $503,078.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 491,557 shares of company stock worth $12,515,563. 22.65% of the stock is owned by insiders.

BRP Group Profile

BRP Group, Inc markets and sells insurance products and services in the United States. It 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.