BRP Group (NASDAQ:BRP) PT Lowered to $28.00

BRP Group (NASDAQ:BRP) had its price target reduced by research analysts at Wells Fargo & Company from $29.00 to $28.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 1.34% from the company’s previous close.

A number of other research analysts also recently commented on BRP. JPMorgan Chase & Co. raised shares of BRP Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $27.00 to $33.00 in a research report on Monday, April 8th. Bank of America lowered their price objective on shares of BRP Group from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of BRP Group from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $33.40.

BRP Group Stock Down 0.1 %

BRP stock opened at $27.63 on Thursday. BRP Group has a 52-week low of $17.33 and a 52-week high of $30.84. The company’s 50 day simple moving average is $27.67 and its 200-day simple moving average is $24.05. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $3.22 billion, a P/E ratio of -18.54, a P/E/G ratio of 0.81 and a beta of 1.54.

BRP Group (NASDAQ:BRP) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. BRP Group had a negative net margin of 7.40% and a positive return on equity of 7.61%. The business had revenue of $284.65 million for the quarter, compared to analyst estimates of $282.00 million. As a group, equities research analysts anticipate that BRP Group will post 1.07 EPS for the current year.

Insiders Place Their Bets

In other BRP Group news, General Counsel Seth Bala Cohen sold 1,033 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $29.04, for a total value of $29,998.32. Following the completion of the sale, the general counsel now directly owns 10,657 shares of the company’s stock, valued at $309,479.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Seth Bala Cohen sold 1,033 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $29.04, for a total transaction of $29,998.32. Following the completion of the sale, the general counsel now directly owns 10,657 shares of the company’s stock, valued at approximately $309,479.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lowry Baldwin sold 62,629 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $28.94, for a total transaction of $1,812,483.26. Following the sale, the director now directly owns 37,371 shares of the company’s stock, valued at $1,081,516.74. The disclosure for this sale can be found here. Insiders own 22.65% of the company’s stock.

Institutional Trading of BRP Group

Large investors have recently modified their holdings of the company. Pathway Financial Advisors LLC raised its stake in BRP Group by 56.3% during the 1st quarter. Pathway Financial Advisors LLC now owns 141,387 shares of the company’s stock valued at $4,092,000 after purchasing an additional 50,929 shares during the last quarter. Moody National Bank Trust Division acquired a new position in BRP Group during the 1st quarter valued at $202,000. Confluence Investment Management LLC acquired a new position in BRP Group during the 1st quarter valued at $3,592,000. Vanguard Group Inc. raised its stake in BRP Group by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 6,107,277 shares of the company’s stock valued at $146,697,000 after purchasing an additional 111,662 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in BRP Group by 24.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 101,717 shares of the company’s stock valued at $2,443,000 after purchasing an additional 19,943 shares during the last quarter. 70.42% of the stock is owned by institutional investors.

BRP Group Company Profile

BRP Group, Inc operates as an independent insurance distribution firm that delivers insurance and risk management solutions in the United States. It operates through three segments: Insurance Advisory Solutions; Underwriting, Capacity & Technology Solutions; and Mainstreet Insurance Solutions. The Insurance Advisory Solutions segment provides commercial risk management, employee benefits, and private risk management solutions for businesses and high-net-worth individuals, as well as their families.