BRP Group, Inc. (NASDAQ:BRP) COO Sells $1,561,581.24 in Stock

BRP Group, Inc. (NASDAQ:BRP) COO Daniel Galbraith sold 60,316 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $25.89, for a total transaction of $1,561,581.24. Following the completion of the transaction, the chief operating officer now owns 8,721 shares of the company’s stock, valued at $225,786.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

BRP Group Stock Performance

BRP stock opened at $26.62 on Friday. 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 stock has a market cap of $3.11 billion, a P/E ratio of -14.19, a P/E/G ratio of 1.34 and a beta of 1.56. The firm has a 50 day simple moving average of $24.96 and a 200 day simple moving average of $24.55. BRP Group, Inc. has a 52 week low of $19.26 and a 52 week high of $32.83.

BRP Group (NASDAQ:BRP) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.13). The company had revenue of $297.19 million for the quarter, compared to analyst estimates of $286.50 million. BRP Group had a positive return on equity of 5.44% and a negative net margin of 9.82%. Research analysts anticipate that BRP Group, Inc. will post 0.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on BRP. JPMorgan Chase & Co. decreased their target price on shares of BRP Group from $32.00 to $28.00 in a report on Thursday, July 6th. Raymond James decreased their target price on shares of BRP Group from $34.00 to $30.00 in a report on Monday, May 15th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, BRP Group presently has a consensus rating of “Hold” and an average target price of $30.20.

Institutional Trading of BRP Group

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of BRP Group by 3.6% during the third 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 during the period. FMR LLC raised its position in BRP Group by 2.4% during the first quarter. FMR LLC now owns 5,221,940 shares of the company’s stock valued at $132,951,000 after acquiring an additional 124,832 shares in the last quarter. BlackRock Inc. raised its position in BRP Group by 6.5% during the second quarter. BlackRock Inc. now owns 4,215,084 shares of the company’s stock valued at $104,450,000 after acquiring an additional 256,122 shares in the last quarter. Champlain Investment Partners LLC raised its position in BRP Group by 5.0% during the first quarter. Champlain Investment Partners LLC now owns 3,469,060 shares of the company’s stock valued at $88,322,000 after acquiring an additional 164,760 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its position in BRP Group by 34.7% during the second quarter. Westwood Holdings Group Inc. now owns 2,001,794 shares of the company’s stock valued at $49,604,000 after acquiring an additional 515,765 shares in the last quarter. 49.69% of the stock is currently owned by institutional investors and hedge funds.

BRP Group Company 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.