BRP Group, Inc. (NASDAQ:BRP) Major Shareholder Laura Sherman Sells 22,305 Shares of Stock

BRP Group, Inc. (NASDAQ:BRP) major shareholder Laura Sherman sold 22,305 shares of BRP Group stock in a transaction on Monday, September 11th. The shares were sold at an average price of $26.24, for a total value of $585,283.20. Following the completion of the sale, the insider now owns 54,695 shares in the company, valued at approximately $1,435,196.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Laura Sherman also recently made the following trade(s):

• On Thursday, September 7th, Laura Sherman sold 57,100 shares of BRP Group stock. The shares were sold at an average price of $26.86, for a total value of $1,533,706.00.

BRP Group Price Performance

BRP stock opened at $25.78 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $3.01 billion, a PE ratio of -13.50, a P/E/G ratio of 1.35 and a beta of 1.56. BRP Group, Inc. has a 12-month low of $19.26 and a 12-month high of $32.74. The business’s fifty day moving average price is $25.05 and its 200 day moving average price is $24.47.

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

Institutional Investors Weigh In On BRP Group

Several large investors have recently bought and sold shares of BRP. Rockefeller Capital Management L.P. increased its holdings in BRP Group by 226.1% during the 1st quarter. Rockefeller Capital Management L.P. now owns 975,466 shares of the company’s stock worth $24,835,000 after purchasing an additional 676,337 shares during the period. Granite Investment Partners LLC purchased a new stake in BRP Group during the 1st quarter worth about $16,947,000. Point72 Asset Management L.P. increased its holdings in BRP Group by 106.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,045,100 shares of the company’s stock worth $25,898,000 after purchasing an additional 538,472 shares during the period. Westwood Holdings Group Inc. increased its holdings in BRP Group by 34.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,001,794 shares of the company’s stock worth $49,604,000 after purchasing an additional 515,765 shares during the period. Finally, NovaPoint Capital LLC purchased a new stake in BRP Group during the 2nd quarter worth about $11,051,000. Hedge funds and other institutional investors own 49.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on BRP shares. Raymond James reduced their target price on BRP Group from $34.00 to $30.00 in a research report on Monday, May 15th. JPMorgan Chase & Co. cut their price objective on BRP Group from $32.00 to $28.00 in a report on Thursday, July 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.20.

About BRP Group

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.