BRP Group (NASDAQ:BRP) Given New $34.00 Price Target at Keefe, Bruyette & Woods

BRP Group (NASDAQ:BRP) had its target price hoisted by Keefe, Bruyette & Woods from $33.00 to $34.00 in a research note released on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Bank of America decreased their price objective on BRP Group from $44.00 to $42.00 and set a buy rating on the stock in a report on Thursday, February 29th. Raymond James raised BRP Group from an outperform rating to a strong-buy rating and set a $30.00 price objective on the stock in a report on Tuesday, December 12th. Finally, JPMorgan Chase & Co. raised BRP Group from a neutral rating to an overweight rating and raised their price objective for the company from $27.00 to $33.00 in a report on Monday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, BRP Group presently has a consensus rating of Buy and a consensus target price of $32.60.

BRP Group Stock Performance

Shares of NASDAQ BRP opened at $28.19 on Wednesday. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of -18.92, a P/E/G ratio of 0.83 and a beta of 1.54. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.29. BRP Group has a 1-year low of $17.33 and a 1-year high of $30.84. The stock’s 50-day moving average is $27.46 and its 200 day moving average is $24.01.

BRP Group (NASDAQ:BRP) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $284.65 million for the quarter, compared to analysts’ expectations of $282.00 million. BRP Group had a positive return on equity of 7.61% and a negative net margin of 7.40%. On average, sell-side analysts anticipate that BRP Group will post 1.07 EPS for the current fiscal year.

Insider Transactions at BRP Group

In other news, General Counsel Seth Bala Cohen sold 1,033 shares of BRP Group stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $29.04, for a total value of $29,998.32. Following the sale, the general counsel now directly owns 10,657 shares in the company, valued at approximately $309,479.28. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, General Counsel Seth Bala Cohen sold 1,033 shares of BRP Group stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lowry Baldwin sold 62,629 shares of BRP Group stock in a transaction that occurred on Monday, March 11th. The shares were 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. Corporate insiders own 22.65% of the company’s stock.

Institutional Investors Weigh In On BRP Group

Several hedge funds have recently added to or reduced their stakes in BRP. FMR LLC raised its stake in shares of BRP Group by 51.2% in the third quarter. FMR LLC now owns 8,674,940 shares of the company’s stock worth $201,519,000 after purchasing an additional 2,938,558 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of BRP Group by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 6,107,277 shares of the company’s stock worth $146,697,000 after purchasing an additional 111,662 shares during the last quarter. BlackRock Inc. increased 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 during the last quarter. Westwood Holdings Group Inc. increased its position in BRP Group by 73.0% during the fourth quarter. Westwood Holdings Group Inc. now owns 3,015,270 shares of the company’s stock valued at $72,427,000 after acquiring an additional 1,272,353 shares during the last quarter. Finally, Invesco Ltd. increased its position in BRP Group by 2.6% during the third quarter. Invesco Ltd. now owns 2,112,762 shares of the company’s stock valued at $49,079,000 after acquiring an additional 53,895 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.