Arizona State Retirement System Decreases Stake in BRP Group, Inc. (NASDAQ:BRP)

Arizona State Retirement System lessened its stake in BRP Group, Inc. (NASDAQ:BRP) by 6.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,935 shares of the company’s stock after selling 1,213 shares during the quarter. Arizona State Retirement System’s holdings in BRP Group were worth $407,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Resurgent Financial Advisors LLC acquired a new stake in shares of BRP Group during the 4th quarter worth about $44,000. Quantbot Technologies LP acquired a new stake in shares of BRP Group during the 3rd quarter worth about $64,000. Captrust Financial Advisors raised its position in shares of BRP Group by 2,262.6% during the 2nd quarter. Captrust Financial Advisors now owns 2,717 shares of the company’s stock worth $66,000 after acquiring an additional 2,602 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of BRP Group by 84.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,754 shares of the company’s stock worth $68,000 after acquiring an additional 1,258 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of BRP Group during the 2nd quarter worth about $87,000. Hedge funds and other institutional investors own 70.42% of the company’s stock.

BRP Group Stock Up 2.9 %

BRP Group stock opened at $27.59 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.90. BRP Group, Inc. has a 1-year low of $17.33 and a 1-year high of $30.84. The company has a market cap of $3.22 billion, a PE ratio of -18.52, a price-to-earnings-growth ratio of 0.81 and a beta of 1.54. The stock’s 50 day moving average price is $28.07 and its 200 day moving average price is $24.20.

BRP Group (NASDAQ:BRP) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. BRP Group had a positive return on equity of 7.61% and a negative net margin of 7.40%. The firm had revenue of $284.65 million for the quarter, compared to the consensus estimate of $282.00 million. On average, sell-side analysts predict that BRP Group, Inc. will post 1.05 EPS for the current fiscal year.

Analysts Set New Price Targets

BRP has been the topic of several research analyst reports. JPMorgan Chase & Co. raised BRP Group from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $27.00 to $33.00 in a research report on Monday, April 8th. Keefe, Bruyette & Woods lifted their price target on BRP Group from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Bank of America cut their price target on 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, Wells Fargo & Company cut their price target on BRP Group from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $33.40.

Insider Activity at BRP Group

In other BRP Group news, General Counsel Seth Bala Cohen sold 1,033 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $29.04, for a total transaction of $29,998.32. Following the sale, the general counsel now directly owns 10,657 shares in the company, valued at $309,479.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other BRP Group news, General Counsel Seth Bala Cohen sold 1,033 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $29.04, for a total transaction of $29,998.32. Following the sale, the general counsel now directly owns 10,657 shares in the company, valued at $309,479.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lowry Baldwin sold 62,629 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $28.94, for a total value of $1,812,483.26. Following the sale, the director now owns 37,371 shares in the company, valued at $1,081,516.74. The disclosure for this sale can be found here. Company insiders own 22.65% of the company’s stock.

BRP Group 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.